U.S. taxpayers lose $11.5 Billion on GM bailout deal. Bondholders end up with 10 cents on on the dollar. Just say NO to GM!
http://www.usatoday.com/story/money/cars/2014/04/30/taxpayers-gm-bailout-losses/8522681/
http://www.dailywealth.com/2125/gm-americas-biggest-bankruptcy
To Drago,
I was going to post something similar. The TARP money and US institutions and pensioners who held GM bonds are paying for this invasion of Chinese Buicks. I would rather have had GM go bankrupt, save what it could, adjust UAW pensions, salaries etc, and do what is normal under bankruptcy, than to have this outcome.
Ten years or more Boeing entered an agreement to have the Chinese build wings for jet transports just so Boeing could sell jets in China. Now with that experience and the ability to build their own wings, China has begun building and selling their own transports. GREAT! outcome only if you hate America and are a committed one-worldist.
Oldplayer