This report from the National Legal and Policy Center looks at the performance of GM heading into the homestretch of the 2012 Presidential Election. The biggest takeaway:
We now learn that government purchases of GM vehicles rose a whopping 79% in June.In other words, the government is using taxpayer dollars to buy cars from itself; that's called money laundering.
G.M.'s defense that a "majority of government sales increases were attributed to state and local government" doesn't hold water considering how much state and local money comes from Washington with strings attached; frankly, it's another form of money laundering.
Also, GM's claim that government sales are less than 5% is one I just don't believe.
Someone's gonna end up in prison over this; I have faith.
(h/t The Blaze)
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ReplyDeleteNor do GM's numbers reflect the fact that the Treasury manufactured a tax break for GM - allowing New GM to carry forward Old GM's net operating losses (NOLs). Now that GM is making money, they can forgo paying taxes, which kind of changes the bottom line, does it not?
ReplyDeleteOh, this is but a small sample of the corruption!!!
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