GM to begin repaying $6.7 billion government loan

T

turkeyneck

HONG KONG (MarketWatch) -- General Motors Co. will begin repaying a $6.7 billion loan from the U.S. government late this year, putting it on track to hand back the entire amount by the middle of 2011, The Wall Street Journal reported Monday, citing a person familiar with the matter. Details of the repayment plan, which could see the automaker return $1 billion a quarter to the U.S. Treasury, are likely to be outlined later Monday when the company releases its third-quarter financial results, the report said.

http://www.marketwatch.com/story/gm-to-begin-repaying-67-billion-government-loan-2009-11-16
 
If I see Goldman Sachs paying off their loan to the U.S then I think we might have a chance of monetary reform.
 
Quote from Lethn:

If I see Goldman Sachs paying off their loan to the U.S then I think we might have a chance of monetary reform.
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If the govt let's them. GS and JPM have been trying to pay the loans off for the past few months, but the govt. won't let them.
 
they are not cash flow positive. they are paying back the money with funds they borrowed from the government. isnt that similar to what madoff did?
 
Quote from vhehn:

they are not cash flow positive. they are paying back the money with funds they borrowed from the government. isnt that similar to what madoff did?
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not quite. GM is basically returning some of what they didn't use. To be like madoff they would have to be paying the money to someone else.
 
GM=Govt and visa verse, oh I forgot about the unions and the very minority equity holders who are not getting a dime. This is a sick love triangle.
 
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