No. Where did you get your facts bro?
Over the years, GM, desperate to rid itself of government oversight, has paid back some of the funds the taxpayers advanced—about $28.7 billion of the $49.5 billion total. But by last year the situation had hardened. GM is a publicly held company. The government had converted its loans into a fixed number of shares of the company. Until today, that total stood at 500 million. In order for the taxpayers to be made whole, GM’s stock would have to rise to the 40s and hold that price for quite a while. That’s not going to happen any time soon.
So with the company’s stock mired in the 20s, the government essentially decided it would take a loss on the company. After this sale, the government will still be out $15.3 billion on its investment in GM, but its remaining shares are worth $8.4 billion at current market prices. So if GM holds its value over the coming months while the government sells its shares, the taxpayers will lose about $7 billion.
The above quote are the facts. The shit that you just came up with is Fox Noise bullshit. And to your point of 3 year tax grace period... again, no, not quite accurate. I can quote this as well... but I want you to do some research on your own. Something you clearly do NOT do.
