Bailgate

Once upon a time the Democrats would at least attempt deception with their motives.These days,the election of Obama has emboldened them to throw caution to the wind on a regular basis.Right out in the open for all to see.

Take the GM 'Bailgate" scandal.Yes,I'll take credit for inventing that term.Withdraw a few billion from one TARP escrow account and give it right back to the government.Then announce with great fanfare that you have paid back your loan 5 years early.

Now this is transparency,the kind we were promised when Obama took office.You can see thru this scam a mile away.No Congressional investigation required.I would think they should have waited until late October to pull this rabbit out of their hat for maximum election value.Too bad for them as it's already been exposed.

Since the government owns them,you'd think this would really tick off the taxpayers.They are using taxpayer money essentially to run the national ad blitz to commit fraud and lie to the American people about paying off the TARP loan.Sorry,taking money from one TARP account and depositing it another doesn't cut the mustard.

Certainly many Americans are familiar with this technique.Call it payment juggling or whatever,we like to use the Mastercard to pay off the Visa bill all the time when we get behind on the bills.Unfortunately it always catches up to you.

The fact is that anyone can see that GM is still losing money every quarter.You can't pay your multi-billion dollar TARP debt when you can't turn a profit.And when you still owe $45.3 billion to the Feds,how is it that you can claim that you paid off your debt in full?Stock that hasn't even been offered for sale yet is just a paper tiger.More to come...