VIDEO: GM Repaid Taxpayers with Tax Dollars

Conn Carroll / May 03, 2010

You probably have seen that new General Motors ad were CEO Ed Whitacre claims his company has repaid their taxpayer bailout “in full, with interest, five years ahead of the original schedule.” Don’t believe it for a second. Nick Gillespie explains why in the video to the right.

The New York Times is also calling out the Obama administration for signing off on GM’s Enron-style accounting:

But what neither G.M. nor the Treasury disclosed was that the company simply used other funds held by the Treasury to pay off its original loan. (more…)