Ran across this article on line today...in essence the Gubment bailout of GM just got quite a bit more expensive...


U.S. plans to exit GM stake by year-end, may lose $10 billion: Thomson Reuters Business News - MSN Money

 

All the GM lovers keep screaming that GM paid back the money that Uncle Sam loaned them, but they conveniently forget about the stock bath Joe Taxpayer is going to take.

 

GM did pay back the money loaned them.
they took the money from the SECOND bailout, and used it to repay the first bailout loan.

so technically, the GM lovers are correct. GM did repay the bailout loan.

the first one. they never said that GM repaid all the bailout loans.

 

That's correct Tom...you didn't mention the retired Union folks who were stripped of their "Guaranteed Lifetime Benefits"...amongst other things in the bankruptcy. Union busting at it's best!!!

 

That it is Ken. it would not surprise me if they have to have another loan to stay afloat at some point.

 

why do you think they are pushing the line sales..... to pay off the loans.

 

GM is sellings tons of new products, silly Americans with their short memories.

 

Sometimes I don't think it is a matter of short memories. As much as it is that people now a days just don't care. And there is a total lack of patriotism and self responsibility in this country. People just don't give a d*** anymore.

 

Very, very, too true---sad to say!

Unfortunately the idea that $10B is real money all taxpayers will be funding is what's lost---the sense of perspective long gone, perhaps about the same time caring about such things.

In the end though that's not even money---its just numbers on a page much like so much else of our economy.