VaYank5150
Gold Member
- Aug 3, 2009
- 11,779
- 1,064
GM?
what about the UAW
and as far as GM goes, there chapter 7 without the 50-60 billion
How can you justify that with "there paying us back"
Again the UAW owns 18% of GM
where does that come from?
and here is your answer to "paying us back"
GM repaid its government loan with other government money, or that U.S. taxpayers could lose money on the roughly $50 billion they still have invested in General Motors.
In a letter to Treasury Secretary Timothy Geithner last week, Sen. Chuck Grassley, R-Iowa, said the repayment "appears to be nothing more than an elaborate TARP money shuffle."
Treasury spokeswoman Meg Reilly says Geithner hopes to respond to Grassley's letter, perhaps by today. General Motors did not respond to calls for comment.
How did taxpayers get into this situation?
Before and during its bankruptcy, the U.S. Treasury loaned General Motors $49.5 billion from the Troubled Assets Relief Program.
When GM emerged from bankruptcy as a new company in July, the Treasury converted most of those loans into a 60.8 percent stake in the new company's common stock, $2.1 billion in preferred stock and $7.1 billion in loans. About $400 million in loans was repaid almost immediately, leaving GM with about $6.7 billion in government debt. The balance of the loan was originally due July 2015, but the date was later accelerated to June 30, 2010.
GM had already repaid $2 billion in loans. Last week, it announced it had repaid the remaining $4.7 billion.
The automaker, however, didn't repay any of the loans from its earnings. Repayments came from "other TARP funds currently held in an escrow account," according to a report by the special inspector general overseeing TARP funds.
This is good info. Thanks. Now, again, how much is Haliburton paying back?
Typically in a business venture in which you provide a service for someone you get paid for it
Being as though Halliburton has provided this service long before Bush was president and, well now they did provide this service in the first Iraq
Simply put they got paid for what they do
There was no loan or 'bail out"
they where not chapter 7
the Govt came to them as Clinton had and others had in the past
Your asking a question that as a good liberal does only creates an event that never took place
FINALLY....you understand MY point. Why would the OP attempt to draw an analogy between a loan and a payment for services? Strawman, perhaps?