Calgarypuck Forums - The Unofficial Calgary Flames Fan Community - View Single Post - GM pays back debt to US/Canadian governments

Jetsfan · 04-23-2010, 08:22 PM

General Motors repaid TARP loans with other bailout funds instead of company earnings

Treasury has merely exchanged a legal right to repayment for an uncertain hope of sharing in the future growth of GM," Grassley wrote. "A debt-for-equity swap is not a repayment."

"The taxpayers are still on the hook, and whether TARP funds are ultimately recovered depends entirely on the government's ability to sell GM stock in the future," Grassley wrote.

http://www.courthousenews.com/2010/04/23/26689.htm

04-23-2010, 08:22 PM	#43
Jetsfan Account Removed @ User's Request Join Date: Aug 2006 Location: Calgary Exp:	General Motors repaid TARP loans with other bailout funds instead of company earnings Treasury has merely exchanged a legal right to repayment for an uncertain hope of sharing in the future growth of GM," Grassley wrote. "A debt-for-equity swap is not a repayment." "The taxpayers are still on the hook, and whether TARP funds are ultimately recovered depends entirely on the government's ability to sell GM stock in the future," Grassley wrote. http://www.courthousenews.com/2010/04/23/26689.htm