Thatsnot what what was stated by the
Of course it was legal, and it was tax payers money too.
By law tax refunds, subsidies, contract payments for work done, and so on, are the property of those who get them.
Do you deny that?
The point is, those funds, which also include money for work done on federal contracts, would be disbursed regardless of whether or not Obama got it back because of the bailout. That money was legally disbursed for reasons totally unrelated to the profit made by Obama's program.
They used tax dollars to pay back the loans, something you denied.
No. Once disbursed, those are not tax dollars. They belong to whoever gets them, by subsidy, tax return, payment for services, or whatever. Obama had no control of those, and they would have been disbursed because the government was legally obligated to do so, by law. For reasons unrelated to Obama's program (which as you know made a large profit for us).
The program made a profit for one reason; it earned more money than it disbursed. Just that simple.
You denied it, and have been proven wrong. Can't you admit when you are wrong?
We bailed them out, and then payed back their loans for them too.
If we had given them money to pay back the loans or to buy back stock, that would have been the case. But as you know, that wasn't the case. No such funds were given.
But according to you the tax payers didn't pay back those loans.
The subsidies, tax refunds, and contract monies, most of which were done by republican presidents and congresses, was paid for by taxpayers. But once disbursed, they belong to the companies to use as they wish. Some of them used it to buy back their stock or pay off the loans.
You know this, but continue to deny it. Why not just admit the fact?
Perhaps the scale of the thing confuses you. Let's take something simpler.
Suppose you have a business, and because you think education makes people better employees, you give an extra $100 dollars to them, if they have a certain number of college hours, and you have subsidized day care for your employees, where you give them a certain amount of money for day care of their kids.
Suppose one them owes you money for some other reason, and uses the day care or education subsidy to pay you back. When they take it out of their account and give it to you, is that your money or their money? What if it's just from their salary?
Does that help?