Quote:
Originally Posted by slacker
I agree, it's not true. Well, it's a half truth:
"GM got a total of $52 billion from the U.S. government and $9.5 billion from the Canadian and Ontario governments as it went through bankruptcy protection last year. The U.S. considered as a loan $6.7 billion of the aid, while the Canadian governments held $1.4 billion in loans."
Yeah, 6.7 billion is the US loan part, the rest is the "we own your company" part.
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Yep. But now that the loans are paid off, the next step in the bankruptcy plan is for the government to start selling off their stock over time.
GM has held up its end of the bargain.
- X