Corporate Socialism: GM Says No Way It Will Pay Back $10 Billion
Obama considers Wall Street orchestrated bailout of GM to be signature success of his administration
Kurt Nimmo
Infowars.com
December 17, 2013
It’s another glaring example you’re here to pay for the losses incurred by banks and transnational corporations.
General Motors CEO Dan Akerson said during a question and answer session at the National Press Club in Washington his corporation is not obliged to payback $10 billion the government plopped down to save the corporation from its own lousy business decisions.
Akerson explained the company is not responsible because the Treasury Department bought GM shares.
“I would not accept the premise that this was a bad deal,” he said, explaining that the government is like any other shareholder. He said the bailout saved billions in tax revenue and helped social services, so it was worth it.
The Obama administration agrees. In fact, Obama considers the socialist bailout of General Motors and Chrysler to be the signature success of his administration.
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