UPDATED: GM about to smash another record!
Great news- they're within spittin' distance of surpassing the 2004 record set for most GM recalls ever! :) News report wrote: General Motors recalls another 2.7 million vehicles The latest ...
Forum Discussion
Fordlover wrote:Perrysburg Dodgeboy wrote:Fordlover wrote:
The author says that Loan = Bailout. Interesting. Wrong, but interesting.
Both GM and Chrysler received "loans" it guys like you say tagging the word "bailout" to them. Both companies have repaid their loans, Chrysler's a lot sooner than anyone elses I might add.
If Ford is doing so well then repaying 14 billion should be no problem right? Why are they taking so long to repay it?
Loans are to be repaid, with interest. This is what Ford's deal was.
If what GM recieved was a Loan, then the Taxpayer got screwed on the return. That, my friend, is the difference between a loan and a bailout.
Chrysler did very good, by paying back every dollar of the bailout. Anyone who believes GM did the same is delusional.
Well just so you know Chrysler did not pay every penny of the loan back. The "old Car Company" as it is now referred to was given 4 billion and of that 1.9 billion was forgiven. This was money the Bush administration gave Chrysler until Obama got in office. But if you figure in the 13+% interest Chrysler paid the Government they still did not lose a penny.
Just want to keep the facts straight, BTW GM had some of it's original loan amount forgiven also.
Don
