Far be it for me to rain on anyone's parade, but don't be fooled: General Motors has not paid its debt back to taxpayers.
The company got $50 billion from our government, and $10 billion more from Canada. They have paid the U.S. back $7 billion plus interest, as I understand it, including the latest payment of nearly $5 billion. So they say they paid us back.
Not quite: That still leaves $43 billion.
What they HAVE paid back they did with TARP bailout funds:
Well, it's so obvious. They believe it because the talking box in their living room told them so.
Answer by QuinnMae at 3:33 PM on Apr. 27, 2010
Answer by mancosmomma at 3:33 PM on Apr. 27, 2010
Answer by Anonymous at 3:37 PM on Apr. 27, 2010
Answer by mancosmomma at 3:38 PM on Apr. 27, 2010
GM can say they paid us back because of the $50 billion in total support, only $7 billion was counted as a loan and the rest was traded for equity in the company that emerged from bankruptcy.
That's how the business world works, and Wall Street especially. What's the problem with capitalism?
Answer by Anonymous at 3:46 PM on Apr. 27, 2010
LOL, isn't that how EVERYONE pays their bills???
Answer by 29again at 3:49 PM on Apr. 27, 2010
Government Motors is still in financial trouble. UAW is suing them. Who do you think will pay UAW off? Clue: It won't be GM !!!!
UAW Sues GM Over Retiree Health Care
Answer by Anonymous at 4:00 PM on Apr. 27, 2010
Answer by jewjewbee at 4:05 PM on Apr. 27, 2010
Answer by itsmesteph11 at 4:55 PM on Apr. 27, 2010
Answer by jesse123456 at 7:14 PM on Apr. 27, 2010