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Cost US Taxpayers $8.9 Billion ?

us55840
I hadn't seen this before .. that the GM bailout cost the U.S. Taxpayers $8.9 Billion. How is this since GM repaid the government debt?

"General Motors
General Motors received $19.4 billion from the federal government, but that didn?t keep the company from filing for bankruptcy on June 1, 2009, in New York. During its bankruptcy reorganization, the feds handed over another $30 billion to save the company. A few years later, GM was out of the red and into the black and had repaid its government debt, but the bailouts cost U.S. taxpayers around $8.9 billion."
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Comments

17 comments

Date Votes
  • KenK/84Bravo
    That's just Peachy.

    (But) Small/Medium businesses can just go twist in the wind.

    (And) Do all the time.

    Nothing to see here. Move along now.




    $8.9 Billion. A mere drop in the bucket. Considering we are many Trillions of $$ in debt. (Right?)
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  • us55840
    KenK/84Bravo wrote:
    That's just Peachy.

    (But) Small/Medium businesses can just go twist in the wind.

    (And) Do all the time.

    Nothing to see here. Move along now.




    $8.9 Billion. A mere drop in the bucket. Considering we are many Trillions of $$ in debt. (Right?)

    Your comments are noted BUT you didn't answer the question posed. :?
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  • Cornflk1
    Always thought the bail-out was a crock. "To big to fail", that means they are too big to begin with. It's not like the factorys and all those skilled workers would be lost.

    Everything would be sold to other "smaller" non-union companys. It was all a union farce. Unions fund the Dems coffers you know.
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  • KenK/84Bravo
    So, if that is indeed the case, that they owe the Government (Us) $8.9 Billion?

    Why can they not pay it back now, or over the course of a few years. A total Write Off? Puhleese.
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  • 11b6r
    In my VERY limited understanding of this- GM was given a bucket of money. They repaid half the bucket, filed for bankruptcy. The half bucket they had not repaid was washed away with the blood of the lamb, or whatever the financial equivalent was. AFTER the bankruptcy, they were given 2 more buckets of money. They repaid those- but the half bucket that was covered in the bankruptcy was bank ruptured, and like Jimmy Hoffa, was seen no more.

    If that is NOT what happened, please don't educate me. That is so far above my paygrade I get nosebleeds just looking at it.
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  • yoshmyster
    obama paying off his cronies in the Great Lakes area in the guise of a bail out.
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  • dunbarboyz
    US Government bought GM stock to keep them alive. Some will say that it is 10.6 billion the American taxpayer lost. If Trump would have been the deal maker he would be behind bars. Obozo not so much.
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  • Sam06
    The stock holders got shafted and America got shafted. The Unions and the Big wigs won big time.

    GM could have managed to continue they would have had to tighten the belt like every other company has too.

    Thanks barry :roll:
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  • Smitty500mag
    It didn't cost the tax payers anything if they really did pay back their debt as reported.
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  • buddyb
    Fiat bought Chrysler,the Chinese bought Ford,so who owns GM?
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  • RIA10MM
    Filed to get rid of the older retirees. Chevrolet stoled their souls.
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  • TANK78Z
    buddyb wrote:
    Fiat bought Chrysler,the Chinese bought Ford,so who owns GM?
    Ford has a 32% ownership in a Chinese car company,
    Ford is not owned by China ,
    if you have any facts on this opinion of Chinese ownership in Ford please
    post a link.
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  • nmyers
    For many years, GM bonds were considered a "blue chip" retirement investment by many folks. Those who were holding these bonds when the government took over got nothing. Thank you, Barack.

    Neal
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  • BobJudy
    At one time the government owned about 60% of the GM stock. After GM emerged from bankruptcy the treasury sold the stock at a loss. Not sure how you can blame GM for the treasury selling when they did. I wasn't a big fan of the way the bailout was done but some estimates said that between GM and Fiat/Chrysler a million jobs were saved. I wonder how much in taxes would have been lost if those jobs either went away or the wages went down do to a surplus of workers in the marketplace? Just some things to think about. Bob
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  • TooBig
    Don't some people call GM China motors now :cry: :oops:
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  • asop
    Let's see now- Democrats, unions, defective recall products, prices of the vehicles REALLY going beyond the cost of living range ;)
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  • spasmcreek
    and do YOU remember the little video where after all this screwing of AMERICA, the ceo of gm said "we are going to build cars in CHINA">>>>>>>> and I SAID>>>>>>>> I WILL NEVER BUY ANOTHER GM PRODUCT.......and i NEVER will.....nor own stock or anything to do with the basstards
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