Chevrolet Corvette Stingray C7 Forum - View Single Post - WHICH IS IT? DO THEY OR DON'T THE STILL THE GOVERNMENT

bigearl · 11-04-2010, 03:15 PM

This gets confused all the time and needs to be clarified.

GM got a loan from the Government. Additionally the Government bought a portion of GM. The loan was paid off, however the Government still owns a substantial piece of GM. That's the 33billion part. The loan was paid off, now they want to sell the company out to individuals as a stock IPO so the government can get their money back. GM technically doesn't 'OWE' this money, since it's not a loan.

11-04-2010, 03:15 PM	#3
bigearl Drives: 10 Camaro 2lt Join Date: Apr 2010 Location: Napa Posts: 553	This gets confused all the time and needs to be clarified. GM got a loan from the Government. Additionally the Government bought a portion of GM. The loan was paid off, however the Government still owns a substantial piece of GM. That's the 33billion part. The loan was paid off, now they want to sell the company out to individuals as a stock IPO so the government can get their money back. GM technically doesn't 'OWE' this money, since it's not a loan. __________________ ----------- Sharks have a week dedicated to me.