Among the issues most commonly discussed are individuality, the rights of the individual, the limits of legitimate government, morality, history, economics, government policy, science, business, education, health care, energy, and man-made global warming evaluations. My posts are aimed at thinking, intelligent individuals, whose comments are very welcome.

"No matter how vast your knowledge or how modest, it is your own mind that has to acquire it." Ayn Rand

20 May 2010

Mark Mix On the GM Loan Repayment

National Right to Work President Mark Mix has dug up a bit more information on the GM loan repayment I discussed in this previous post and this previous update.  The $5.8 billion paid back on 21 April was the balance of a $6.7 billion loan at 7% interest.  Obama praised GM for this repayment and its CEO Ed Whitaker touted it in an ad shown extensively on TV.  This was in fact repaid with part of $43 billion of taxpayer money it received in 2009.  Now, Mark Mix says this repayment was made in good part to secure a new loan for $10 billion at a lower interest rate of only 5%.

The government-chosen management and the UAW sure are demonstrating a knack for getting their hands on our money.  I do not remember choosing GM as an investment.  Did you?

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