When is GM going to pay US back, since we own 60.8% of GM aka ObamaMotors?
1. When is GM going to pay US back, since we own 60.8% of GM aka Obama
The U.S. Treasury Department, which took a 60.8% stake in GM in return for the $
$50 billion bailout that saw it through bankruptcy, sold 75% of the common share
s put up for sale Thursday. That will return at least $11.8 billion to taxpayers
. But even with that stock sale and other money returned to the government b
y GM, about $27 billion will remain unpaid. Whether taxpayers get that back will