Tea Baggers Proven to be Friggen Idiots.

GM Repays Govt. Loans
By: Zacks Equity Research
April 22, 2010 Comments: 0
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General Motors revealed that it has repaid $8.1 billion in loans to the governments of U.S. and Canada ahead of the scheduled maturity date of July 2015. The repaid amount constituted $6.7 billion in U.S. Treasury (“UST”) loans as well as $1.4 billion in Export Development Canada (“EDC”) loans that it had received while going through the bankruptcy protection last year.

The $6.7 billion UST loan is equivalent to 13% of the $52 billion that the U.S. taxpayers have invested in the company, mainly for a 61% ownership stake. The EDC loans come up to 15% of the $9.5 billion in loans from the governments of Canada and Ontario.

GM has vowed to repay the remaining $45.3 billion to the U.S. government and $8.1 billion to the governments Canada and Ontario through a public stock offering, perhaps later this year.
GM Bailout a Smashing Success, so Tea Baggers are Idiots.

I love the fact they paid off the loan, and early. And I particularly enjoy the added benefit that the policy was proven to be a good one, and that means those who were against it, are proven to be friggen idiots.