23 April 2010

A moment of clarity regarding the GM repayment of bailout loans from the Information Minister

My fellow Patriots,

Team Obama's recent touting of GM's repayment of bailout loans made headlines around the country.  "See here's something Obama did right".  Not those evil bankers who made a profit that we need to crush. Proving Obama's much vaunted genius to give GM a bailout.

Well its been a few days now and the real story is starting to come out on this "repayment."  Turns out that the money used to repay the government bailout was in fact other TARP money set up in an escrow account at Treasury- not from earnings.

Of the billions in cash given to GM, 6.7billion was set aside in escrow for the repayment of loans to the Treasury.  An additional 5.6 billion in cash would stay in the Treasury to reply other loans.

In other words GM used TARP money to repay TARP money.

And since GM used TARP money the treasury had to approve this re shuffle of funds.

The desperation of the Obama administration to manufacture anything positive is truly without bounds.  All to try to deceive the public into thinking that all the bailouts and spending and massive government intervention was just another brilliant move by Obama.

The question is why??

Why now and why repay it so quickly?

Well part of the TARP fund is a responsibility "fee", or tax that is scheduled to kick in June of this year.  This fee would mean billions in taxes re-payed to the government.

But I'm sure this is just another timing coincidence that the Obama administration knew nothing about.  Like the timing of the increase of premiums for the Insurance company in California in order to get HC passed. And like the Goldman Sachs SEC suite so Obama can sell financial "Reform" and get this passed.

The point is, I'm not sure who is worse. The public who keeps buying the crap.  Or the administration who and I know I might offend some of you out there.  An administration who truly thinks were a bunch of morons.

You have Obama running around on tour mocking his way across the country.  Treating anyone who dares question him as a hate monger.  Telling people we should be thanking him for his "tax cuts" which we all know is a pile of crap.

Can anyone even remember the last time Obama held a press conference?  Gee I wonder why?  This clown that's right I said clown has run whole shot over the constitution without one person from the press being able to ask one valid question.

Enough of the BS. Let me put this as clearly as I can, Obama must be voted out of office in 2012.  The Democrats must lose the majority in one or both houses of congress.  There I said it and I mean it.

America Prevails

Information Minister

Loyal Opposition


No comments: