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GM loan

 
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TimAllen



Joined: 28 Oct 2002
Posts: 115

PostPosted: Mon May 10, 2010 1:16 pm    Post subject: GM loan Reply with quote

It's so hard to not get angry at both General Motors and the compliant Feds when I dive into this version of "we paid back our loan in full” bullshit. You do your own research but you will find similar information. Depending on how clear the writer is will depend on how it’s understood. This attached article is understandable to me. It’s crap and funky and makes me want to take a shower. These pinheads live by another set of rules, and clarity & truth are foreign concepts. It’s always versions of the truth. They did not tell the truth. They didn't pay anything off with their own money, which is how most humans define “paid off a loan”, that is the truth. They all should have to sit in a corner and have their mouths washed out with soap.

http://www.sfgate.com/cgi-bin/blogs/pender/detail?entry_id=62415&tsp=1
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childofGod



Joined: 07 Apr 2010
Posts: 40

PostPosted: Mon May 10, 2010 3:29 pm    Post subject: Reply with quote

The fact that the government bailed out GM at all still rankles me. Should I be surprised that the "loan repayment" is nothing more than an elaborate shell game?
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LadyHawke



Joined: 25 Oct 2006
Posts: 1080
Location: New York

PostPosted: Thu May 13, 2010 4:16 pm    Post subject: Reply with quote

Dear Tim:

Why do you think GM is no longer going to be making their best selling cars for the past ten or so years now and their best built cars for the past same amount Pontiac and Saturn (my late uncle swore by these Saturn cars. He was a top mechanic for GM)? And why do you think after GM announced that they were almost bankrupt and they needed to downsize to stay afloat and then we are treated with the Cash for Clunkers program and THEN after so many people went out and bought Toyotas with the plan found themselves after only a few months getting their new cars recalled for malfunctions--when Toyota has been FOR YEARS one of the best foreign built line of cars sold in this country to outsell and dump all over Detroit?

Would you like a lesson in crooked deal politics. Boy do I have a story to tell you! I can send you a photo of something you won't like seeing having to do with another major shut down that the government did nothing to stop. This one is the truth, the whole truth and nothing but the truth. I would like to tell the whole world about this one and how our government reps are basically a sham and in it now for themselves. (I'm from the Massa state! NY. Does that tell you something?)
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Emrad



Joined: 12 Jan 2009
Posts: 225
Location: DM12

PostPosted: Sat May 15, 2010 8:21 am    Post subject: Reply with quote

When I saw that, “We paid back our loan”, thing it sounded a little odd to me. Kinda sounds like tooting their own horn.

I would wonder why a large corporation would want to advertise something like that… I would think it might be a bit embarrassing for a company to even disclose that they had to avail themselves of such a bail out whether they paid it off or not.

I have a tendency to be overly suspicious & pessimistic anyway. So watching execs getting grilled before a panel asking “tough” questions, for example, somewhere in the back of my mind I can’t help but wonder if they’re all in cahoots and the grill is all just a show. Over stuff like that I have to work really hard to try to keep an open and objective outlook and maintain a little faith… but sometimes they don’t make it very easy.

Emrad
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LadyHawke



Joined: 25 Oct 2006
Posts: 1080
Location: New York

PostPosted: Sat May 15, 2010 3:38 pm    Post subject: Reply with quote

Okay Guys, Here's a bank loan lesson for all of you who don't know how to handle your money. Loans generally are paid back over a span of time, like a car loan for say 68 or 72 months or 5 or 6 years for those who can't count months. In that time if you bought a new or slightly used car for around 14 to 15 thousand dollars, you are going to be spending anywhere from 300 to 500 per month to pay back that loan, depending on your rate of interest and how much you put down as a down payment or had a trade in for the car. Generally, most people don't have a down payment or much of a trade in and need to maximize their loans payments, like I did. Therefore, I am paying back a loan over a span of time. I have one more year to go on my car incidentally.

Now for some institutions there comes sometimes what they call a balloon payment. That's when you borrow money on a specific interest agreement and have to at a specified time pay a huge chunk of money back to the loaner in order to continue on with the loan you have at the rate you have or you go bust. Many corporations like GM hedge their payments with these. This is probably what GM did. HOWEVER. The loan is not entirely paid back yet. They are still paying off more of the money over a span of time like a regular loan even with having made the balloon payment. In the meantime, they can borrow more money and Hedge. Incidentally, this is the kind of loan W took out with China on our country when he needed some fast money. And just before the banks so conveniently collapsed, there was this thing called a balloon payment W had to make to China or go bust. So, you guess what happened. It took 4 banks to do this hoop trick.

Now as to the house payments, I thought under the law people were required to have so much money to pay down, etc. etc. first, oh well. These kind of payments don't work on houses because you are paying back that loan for almost a life time or at least a work time, say 20 to 30 years because houses are that expensive. People who are in the market for buying houses should understand their finances, how much they can pay each month ON TOP of all their other expenses for a very long time if they want to buy a house. And you had better cover all your bases, car payment, insurances, food, clothing, kid expenses, etc so you can well afford this type of loan.


Well, having explained this in the simplest terms I can possible, do you really believe these guys paid their loans back and are now runing in the black? NOOOOOOOOOOOOOOOOOOOOOOOO are you kidding!!!!!!!!!!!!!!!!!!!!!! They still owe us a ton of money and we need to get it back!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Now don't tell me you guys can't see this just by looking at the dumb stuff going on on tv and the news shows alone! I'm not a number cruncher and I can see it.
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achristmasstory



Joined: 14 Feb 2003
Posts: 230

PostPosted: Sat Jun 19, 2010 9:14 am    Post subject: Reply with quote

So basically I and the other tax paying citizens of the USA and of Canada paid GM's loan off.
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LadyHawke



Joined: 25 Oct 2006
Posts: 1080
Location: New York

PostPosted: Sat Jun 19, 2010 4:22 pm    Post subject: Reply with quote

Did you expect it to be anything less than that? Laughing
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