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Originally Posted by Shawnee123
GM has paid off the last of its bailout loans:
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NEW YORK (CNNMoney.com) -- General Motors has made a final payment of $5.8 billion to the U.S. and Canadian governments, paying off the last of its $6.7 billion in loans, the company said Wednesday.
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Overall, GM received $50 billion in federal help.
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In return, the government got $2 billion in preferred stock and 61% of the company's privately held common shares.
Taxpayers could recoup money from a possible sale of GM stock to the public in the future.
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OK, so you and I, gave them $50 Billion and they gave us back $6.7Billion.
Thats great... or is it?
What is the value of that stock today? $.63 a share and the other stock, I cannot find. The last few articles I saw mentioned zero, but I can't believe that...Why? I dunno.