by aspera » Wed 28 Nov 2018, 16:05:22
$this->bbcode_second_pass_quote('', 'P')lantagenet wrote: Trump is demanding that GM restart production of the Volt and other sedans, or repay all the bailout money to the US treasury. That seems reasonable to me.
$this->bbcode_second_pass_quote('', 'Q'): Did General Motors repay its TARP loan from the Treasury with other TARP money?
A:
Yes, it’s true that GM paid back its loan from the Treasury Department, in full, ahead of schedule.But the debt was only part of the automaker bailout package. Through the Troubled Asset Relief Program, the Treasury gave GM $49.5 billion, most of which was converted into an ownership stake in the form of stock. Through this equity stake, the government still owns 61 percent of GM.
Some Republicans, including Sen. Chuck Grassley of Iowa have pointed out that GM used TARP money to pay back its TARP debt. That’s true, but GM simply handed back TARP money it had been lent and hadn’t used. Those funds had been sitting in an escrow account, should the automaker need them. (The company didn’t borrow new money to pay back an older loan.)
https://www.factcheck.org/2010/05/general-motors-debt/ Did I miss something. I thought they'd paid it back, early. And, do they still own that equity stake? (I seem to recall that the Treasury sold it - but got conflicting answers from the net).