I have seen people come and go in here insisting on the fact that GM paid for their bailout in full. However, it looks as though taxpayers are getting thrown under the $13 BILLION dollar bus.
Still, taxpayers will almost certainly lose billions of dollars in the $49.5 billion GM bailout - and the government would need to sell its remaining shares for about $70 each to break even. If the government sold the rest of its stock at current prices, taxpayers would lose more than $13 billion. But profits from the bank and AIG bailouts will largely offset the auto bailout losses.
From The Detroit News: http://www.detroitnews.com/article/20121219/AUTO0103/212190382#ixzz2FbNhP3rT
Another question, does the fact that profits from the bank and AIG bailouts offsetting the loss of taxpayer money for the auto bailouts make this okay? And if speculation is correct and GM goes through another bankruptcy, would you support another bailout to the auto industry?
Answer by Dardenella at 12:03 PM on Dec. 20, 2012
Answer by Ballad at 12:16 PM on Dec. 20, 2012
Answer by Dardenella at 1:13 PM on Dec. 20, 2012
" And if speculation is correct and GM goes through another bankruptcy, would you support another bailout to the auto industry?"OP
If GM ends up having to bail out again, they would be better off filing bankrupsky. It would give them a new start, ther Unions would have no choice except to negotiate another contract with GM. And then, and I know this this probably is a pipe dream, but then GM may be able to come back to MI, open up the plants that were closed, cause MI will be a right to work state and the Union will not have the power they once did, and negotiate a higher contract. And another plus, they will be under no obligation to hire the laid off workers from when they closed down a plant. They can hire folks from the street and still offer them a good working wage, but it wouldn't be at no $20 an hr or whatever.
Answer by Michigan-Mom74 at 5:39 PM on Dec. 20, 2012
Answer by RyansMom001 at 12:23 PM on Dec. 20, 2012