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Loan Modification

: Mortgage Lender Implode-o-Meter

How did GM pay off its bailout loans?

By Implode-Explode Heavy Industries

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"The backers of the bailouts to General Motors cried with triumph this week when the automaker announced that they had repaid their bailout loans ahead of schedule. That amounted to proof of the wisdom of government intervention, the argument went, and wondered aloud why bailout critics didn?t acknowledge their errors. Perhaps it?s because the government essentially got paid off with even more government money:"

Full post as published by Mortgage Lender Implode-o-Meter on April 24, 2010 (boomark / email).

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