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Originally Posted by DGthe3

General Motors Company has paid back their loans ahead of schedule, with interest. Saying anything to the contrary is proof that you don't quite understand the facts of the situation

When General Motors Corporation went bankrupt, they were split into two companies: Motors Liquidation Company and General Motors Company. Motors Liquidation Company is the continuation of the former General Motors Corporation and they were the ones that received most of the loans from Bush and Obama. It is my understanding that they will pay back whatever they can as they liquidate themselves, but this will not amount to very much.

General Motors Company (new GM) was created little more than a year ago, and at the time received loans from the US, Canadian, and Ontario Governments. These were paid back several months ago, years ahead of schedule. So when the CEO Ed Whitacre said they've paid their loans back, it was absolutely true. They are owned by the US, Canadian, and Ontario governments as well as the UAW VEBA fund and bond holders from Motors Liquidation Company. When the government owners sell their stock, it is hoped that they will get back approximately the same amount of money as was loaned to old GM in 2008 and 2009.

I, at the risk of sounding optimistic, believe the government will get the amount invested into GM back, but I'm doubting citizens will ever see that money.