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?