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To: worst-case scenario
"GM got a total of $52 billion from the U.S. government and $9.5 billion from the Canadian and Ontario governments as it went through bankruptcy protection last year. The U.S. considered as a loan $6.7 billion of the aid, while the Canadian governments held $1.4 billion in loans."

Am I understanding this correctly? The U.S. (us) gave them $52 billion, but we only considered $6.7 as a LOAN, and the rest of the $52 billion was a gift?

14 posted on 04/21/2010 8:55:30 AM PDT by Spunky (You are free to make choices, but not free from the consequences)
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To: Spunky
"Am I understanding this correctly? The U.S. (us) gave them $52 billion, but we only considered $6.7 as a LOAN, and the rest of the $52 billion was a gift? "

Yep, you got it correct. Except they don't like to call it a 'gift' they call it 'aid.'

19 posted on 04/21/2010 9:00:24 AM PDT by avacado
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To: Spunky
Am I understanding this correctly? The U.S. (us) gave them $52 billion, but we only considered $6.7 as a LOAN, and the rest of the $52 billion was a gift?

Don't worry, your ponies and rainbows are going to come soon, the Obamassiah promised!

28 posted on 04/21/2010 9:24:39 AM PDT by PugetSoundSoldier (Indignation over the Sting of Truth is the defense of the indefensible)
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To: Spunky

The $6.7 billion is just the outstanding loan amount. The remainder of the $52 billion was converted to equity. The US gov’t still owns a big chunk of GM, I forget exactly how much. Other owners are the UAW and Canadian gov’t.


31 posted on 04/21/2010 10:02:11 AM PDT by javachip
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