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marnesdad 1 year ago |
GM does not have a TARP account. The only taxpayer money still tied up in General Motors is the equity in the 554 million shares belonging to the Treasury Department. |
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marnesdad 1 year ago |
GM HAS been paying out dividends on preferred stock since they returned to profitability in 2010. Neither Ford or Chrysler paid ANY dividends on ANY stock until this year. |
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marnesdad 1 year ago |
The government didn't 'confiscate' any wealth of the stockholders and bondholders of the old GM. And no one other than the poorly run old GM screwed any investors. Stockholders lost their money just as they would when any company they owned stock in declared bankruptcy (and long before any government involvement). Bondholders minimized their losses by trading $37B in bonds for 10% equity in the new GM ($1.2B better than how they would have fared in liquidation). |
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marnesdad 1 year ago |
GM is absolutely successful -- regardless of the few handpicked sentences Wilkow takes out of the articles he barely skims. |
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