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May 1, 2010

Government Motors commits fraud


Ken Thomas and Tom Krisher
Gas in the tank: GM repays $8.1B in gov't loan

Alice Gomstyn and Mathew Jaffe
GM Under Fire for 'Misleading' Bailout Ad

Darrel Issa and Jim Jordan
GM Under Fire for 'Misleading' Bailout Ad

    "We are concerned that GM,
    under your leadership,
    has come dangerously close to committing fraud,
    and that you might have colluded with the United States Treasury
    to deceive the American public.

    -- Darrel Issa and Jim Jordan

In other words, GM took $7.1 billion dollars out of the $52.4 billion dollars the government had given GM, so that GM could "pay back" the "government loan of $7.1 billion", making it much easier for GM to obtain another $10 billion in DOE money for plant retooling to meet "green" standards.

Sounds more like a kick-back to the government for the free money GM got from the government, both from the past, as well as for money yet to be awarded GM from the government in the future.

The government is bringing Goldman Sachs on trial for fraud; accusing Goldman of misrepresenting the facts about the financial viability of loans Goldman sold.

All true and all done while holding hands with the Feds, and so everyone knows that that Goldman will only get a slap on the wrist from their government partners. The fix is in.

The point here is that the government has pure gall to call others frauds!

GM is owned and operated by the federal government.
  • The Fed is the major stockholder of GM.
  • The Fed is the major lender of GM.
  • The Fed directs GM through bankruptcy court.
  • The Fed appointed the CEO of GM, Edward Whitacre.

"Government Motors" is an apt name for GM.

So when GM issues a decree, the statement has the blessings of the Feds, indeed, the statement is a government decree!

And that is the problem.

For all the people buying GM stock going forward or people buying GM cars going forward, how many will do so based upon the fraudulent statement of the government appointed GM CEO?

This statement is pure fraud...

Fraud Statement by GM CEO Edward Whitacre

You can read further at The Problem.
You can read further at Guide to "Checks and Balances".
You can read further at The Solution.
Article located at:
Last Hope for America
Christian Libertarian: Harmonious Union
Church and State

The Christian Solution ©             First Release: March 15, 2008