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Tuesday, April 27, 2010

I got this from Government Motors


Dear

We value and appreciate your loyalty more than anything. We are proud to announce we have repaid our government loan – in full, with interest, five years ahead of the original schedule. We realize we still have more to do. Our goal is to exceed every expectation you've set for us. We're designing, building and selling the best cars and trucks in the world. Like the award-winning Chevy Malibu, the all-new Buick LaCrosse, the versatile Cadillac CTS Sport Wagon and the innovative GMC Terrain, just to name a few. As we move into the future, we're thankful to have loyal owners like you. We invite you to learn more about the new GM and join our community, by visiting gm.com. And once again, thank you for your support


Susan E. Docherty
Vice President, U.S. Marketing


Sounded pretty good, eh? Well, it didn't take long for people to point out that all they had done was taking money from Peter to pay Paul.

The watchdog, however, won't budge. When asked how to tell whether the $4.7 billion used to pay off the government loan came from TARP funds and not some other source, a spokesman for the Special Inspector General's Office explained: "We have a letter from General Motors requesting that they take the money out of escrow and pay the other debt down. And the money in the escrow was clearly TARP funding." That letter has been released by the Special Inspector General's Office.


So I decided to give'em a ping back.

I have since learned that this email is incorrect. All you did was take TARP money and use it to pay this loan back.

The entire upper management team should be replaced immediately for allowing this gross misrepresentation to be made.

There's a FORD in my future.

Signed

A 33 year Chevrolet, Pontiac and Buick customer.
http://www.washingtontimes.com/news/2010/apr/23/government-motors-repayment-fraud/

Somehow I don't think there will be a reply.

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