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Archive for the ‘bailout’ tag

The Next Bailout? $165 Billion For Unions

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A Democratic senator is introducing legislation for a bailout of troubled union pension funds.  If passed, the bill could put another $165 billion in liabilities on the shoulders of American taxpayers.

The bill, which would put the Pension Benefit Guarantee Corporation behind struggling pensions for union workers, is being introduced by Senator Bob Casey, (D-Pa.), who says it will save jobs and help people.

This cannot be real. Seriously, he must be doing this on a dare from George Soros or something.

If this came anywhere close to passing, a zombie army of American revolutionaries would rise from the grave…

H/T Mitch P.

Written by Moog Rogue

May 24th, 2010 at 8:57 pm

WSJ: GM Uses ‘TARP Money Shuffle’ to Pay Loans

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Here is a new GM ad featuring chairman Ed Whiteacre, who proudly announces,

We have repaid our government loan in full, with interest five years ahead of the original schedule.

Meanwhile, the Wall Street Journal reports,

Treasury and GM officials don’t dispute that the money to repay the loan is coming from TARP funds. But they said that’s been clearly disclosed.

A GM spokesman said the company is paying back the loan early “because we’re making great progress and we have a great line up of vehicles that are selling very well.”

H/T Mitch P.

Written by Moog Rogue

April 23rd, 2010 at 10:13 pm