Quote:
Originally Posted by dkb
I keep saying this on these boards when this topic comes up ... there's nothing to pay back. They are NOT loaning GM money ... they are taking stock in the company in return for the injection of funds. There may be even more money they provide to GM over the next few years in the form of a loan but a whole lot if not all the money the government invests is being taken as stock.
This is not like the Chyrsler bailout years ago where the gov merely loaned money and chrysler paid it back. This time the government is buying the company. The NY Times has a big article on it this morning.
The feds are likely to own 70% of the company ... the unions another 20% with the Canadian government having another smaller chunk. Private investment in the company is being wiped out entirely .....
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now i've got my story straight, thanks for clarifying
