Obama knows the GOP won't mind his $25 billion lie since they winked at the murder of US border agent Brian Terry.
3/16/12, "Obama campaign film contains $25 billion error on auto bailouts," Raw Story, Stephen C. Webster
"The Obama 2012 campaign has released a short film called “The Road We’ve Traveled,” detailing the challenges faced by President Barack Obama’s administration from day one through the start of the campaign.
But it’s not all roses for team Obama: part of the film contains a gross inaccuracy. Specifically, it claims that General Motors (GM) has fully repaid its federal bailout loan. It has not — meaning the documentary contains a $25 billion error.
Of the nearly $50 billion given to GM, just under half has been repaid to the government. Officials still argue the auto bailouts were a good investment due to the hundreds of thousands of jobs saved by that decision, and it is accurate to say that GM has returned to record profits — as have all the other major American automakers....
“The Road We’ve Traveled” debuted Thursday night in dozens of online screenings at Obama campaign offices across the country. Filmed by Davis Guggenheim, the director behind Al Gore’s “An Inconvenient Truth,” it reportedly cost the campaign $345,000 to pull together.
This video is from the Obama 2012 campaign, published Thursday, March 15, 2012."
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"General Motors Co. owes about $25 billion." AP
1/26/12, "Report: Taxpayers still owed $133B from bailout," AP, via Fox News
"Companies that were bailed out during the financial crisis still owe U.S. taxpayers nearly $133 billion. Treasury's plans to recoup that money have been slowed by the volatile stock market and weakness among smaller banks.
Some of the money will never be recovered.
That's the conclusion of the acting inspector general for the government's financial bailout. Some bailout programs, like the effort to reduce home foreclosures, will last as late as 2017, the inspector general said. Those programs could cost an additional $50 billion or more.
Among the largest bailed-out companies, American International Group Inc. still owes taxpayers around $50 billion, General Motors Co. owes about $25 billion and Ally Financial Inc. about $12 billion."...
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"General Motors Co. owes about $25 billion" to US taxpayers. Instead of paying us back they're using it to bail out part of Europe.
2/28/12, "Reports: Peugeot to raise $1.34B as part of GM buying 7 percent stake in French automaker," MLive, MichiganLive, M. Wayland
"General Motors Co. is reportedly close to purchasing a 7 percent stake in PSA Peugeot Citroen in an effort to help its struggling European operations.
According to numerous media outlets, the Paris-based carmaker could announce as soon as this week plans to sell a stake of its operations to the Detroit-based company as part of a development alliance."...
A “person familiar with the situation” told the Wall Street Journal Tuesday that the alliance plans to raise about €1 billion ($1.34 billion) in connection with the reported alliance, which would be worth up to €250 million based on Peugeot's market capitalization of €3.58 billion....
Executives at GM have consistently said that drastic changes are coming this year to GM Europe, which lost $747 million last year."...
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3/2/12, "GM laying off 1300 due to low Volt sales," Washington Examiner, J. Gehrke
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This investment in Peugeot is called a development alliance by GM. Three years ago the US taxpayers bailed out GM now they are going to try to bail out a little part of Europe by investing in Peugeot GM is losing money in Europe because their giant subsidiary, Opel,( Buick Regal ) is caught up in Europe’s financial mess , I don’t’ see how the Peugeot deal is going to help that situation."
Looks like GM is back to their old ways. What a surprise."
Sparkenator:
Numerous analysts feel the same way. They say both companies are in too much of a mess in Europe to help one another. Since 1999, GM Europe has lost $12.4 billion.
http://content.usatoday.com/communities/driveon/post/2012/02/analysts-gm-peugeot-linkup-wont-fix-gm-europes-losses/1#.T04hg4fOV2A
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