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GM Subsidizes Dealers Waiting on Government Money ... With Government Money

In a shell game of find-the-taxpayer-money, General Motors is temporarily subsidizing its dealers, which are waiting on late Cash for Clunkers payments from the government.

Nice, but here's the thing: GM is 60 percent owned by the federal government, after exiting from bankruptcy.

The Post's Dana Hedgpeth wrote here today that auto dealers are grumbling, having made all these Cash for Clunkers sales and have yet to see their $4,500-per-car payment from the government.

So this new GM program, which you can read about here, is essentially moving taxpayer money from one pocket to another.

-- Frank Ahrens
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By Frank Ahrens  |  August 20, 2009; 10:08 AM ET
Categories:  The Ticker  | Tags: GM, General Motors, cash for clunkers  
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The people paying the people paying the people who are paying the people are out of money. Get creative

Posted by: Dermitt | August 20, 2009 10:53 AM | Report abuse

Here's an idea. Write bad stories and pay the Post for writing them. If the writers can pay the readers can now get wrong information and the Fed can underwrite the whole thing. Send the Post $30 billion to build a worse product and everybody makes out. See.

Posted by: Dermitt | August 20, 2009 10:59 AM | Report abuse

The money is talking.
Mine keeps saying goodbye.
Have a good day.

Posted by: Dermitt | August 20, 2009 11:10 AM | Report abuse

You donot need actual vouchers or coupons to partipate in this program. All dealers are required and government will
reimburse the fees for the clunkers


Posted by: jhenry2108 | August 21, 2009 2:05 AM | Report abuse

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