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Yes, California, I am going to keep that money.

April 21, 2010

First I saw this:

General Motors Co. has repaid $8.1 billion in loans it got from the U.S. and Canadian governments, a move its CEO says is a sign the automaker is on the road to recovery.

And then I saw this:

The Golden State has borrowed $8.8 billion so far to cover jobless benefits during a recession where the national unemployment rate crested above 10 percent.

And then I thought: nahhhh.

UPDATE - Whoa. Via Jammie Wearing Fool:

The automaker hopes to begin repaying the remaining $45.3 billion to the U.S. government and $8.1 billion to Canada via a public stock offering, perhaps later this year. The U.S. government now owns 61 percent of the company and Canada owns roughly 12 percent.

That’s a lot of Hummers.

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  1. Stupid: General Motors plays a shell game | Political Byline

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