Chevrolet Corvette Stingray C7 Forum - View Single Post

StreetReporter · 12-11-2010, 01:05 AM

Clarification: GM paid back all the money it BORROWED from the government in the form of a LOAN.

The rest (like 45 billion) was a BAIL-OUT, which gave the US Govt. ownership of the entire company in the form of shares.

In last month's IPO, the government made back 13 billion from the sale of shares.

Right now, the feds (you and I ) still own 33% of the company.

12-11-2010, 01:05 AM	#7
StreetReporter Drives: 2010 Camaro 2LT RS Black on Black Join Date: May 2010 Location: Cincinnati Posts: 218	Clarification: GM paid back all the money it BORROWED from the government in the form of a LOAN. The rest (like 45 billion) was a BAIL-OUT, which gave the US Govt. ownership of the entire company in the form of shares. In last month's IPO, the government made back 13 billion from the sale of shares. Right now, the feds (you and I ) still own 33% of the company. __________________ "If at first you don't succeed, conceal all evidence you tried in the first place."