The interesting thing about Ford borrowing $28 billion or whatever was that it was just before the 2008 economic crash.
While GM and Chrysler need government bailouts to stave off bankruptcy(“government motors”), Ford was in good shape because of these loans they got before the crash. I think they even hocked the rights to the blue oval.
So when people refused to by GM and Chrysler because of the government bailouts, they moved to buy cars from the non-government car maker. Interesting that they now have their hand in the till.
GM went bankrupt in 2009. The feds stepped in and reconstituted a new company called GM. I know oldGM bond holders got screwed over in the deal.