CarMax cofounder and ousted CEO Austin Ligon will speak at the Democratic National Convention Wednesday night to tout President Obama’s leadership, but Ligon’s own record has been marred by failures of leadership.
Several corporations—including banks that accepted federal bailouts totaling in the billions—have contributed more than $20 million to fund the Democratic National Convention (DNC), according to a Bloomberg report.
A bailed out General Motors expanded its small truck and SUV manufacturing in China soon after closing down similar facilities in Janesville, Wisconsin—the plant Barack Obama pledged to save and keep open for “another hundred years” in 2008.
General Motors' financial arm is finally turning a profit since receiving a $17.2 billion cash infusion from the American taxpayer. But the money is going into the pockets of wealthy financers, not the U.S. government, according to Dealbook.
Despite President Barack Obama’s stories about a resurgent GM ready to repay its bailout tab, the automaker and its former bank still owe taxpayers nearly $42 billion, according to an inspector general’s report.
National Security Adviser Tom Donilon collected more than $148,000 in pension payments from bailed out mortgage giant Fannie Mae in 2011, on top of his White House salary of $172,200, according to a Free Beacon analysis of White House personal financial disclosure forms.