11-04-2010, 03:20 PM
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#4
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Drives: 2010 2SS Camaro
Join Date: Jul 2009
Location: Murfreesboro, TN
Posts: 3,890
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Quote:
Originally Posted by bigearl
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.
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