Gas in the tank: GM repays $8.1B in gov't loans - Yahoo! News
Gas in the tank: GM repays $8.1B in gov't loans - Yahoo! News: "GM received $52 billion from the U.S. government and $9.5 billion from the Canadian and Ontario governments starting in 2008. At first the entire amount of U.S. aid was considered a loan as the government tried to keep GM from going under and pulling the fragile economy into a depression.
But during bankruptcy, the U.S. government reduced the loan portion to $6.7 billion and converted the rest to company stock."
BLOGGER NOTE:
OK, heres the problem with that:
If the US Gov has controlling interest (61%) in GM, why were so many BILLIONS sent to South American GM factories to build FOREIGN economies? We dont need middle class factory jobs in the USA?!???!??
But during bankruptcy, the U.S. government reduced the loan portion to $6.7 billion and converted the rest to company stock."
BLOGGER NOTE:
OK, heres the problem with that:
If the US Gov has controlling interest (61%) in GM, why were so many BILLIONS sent to South American GM factories to build FOREIGN economies? We dont need middle class factory jobs in the USA?!???!??
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