By: samhill On: Thu Jul 19, 2012 8:15 am
Odd that the biggest greenie to go bellie up was a con with many con backers, going bankrupt has long been & still is a way( for the ones that know the game) to lose others money & keep your own kind of what Bain did/does. As far as I know we haven't lost anything on GM (I''ll recheck) it's still GM not UAWs.
The GM thing isn't over yet, as far as the reorganized Co.s go both have repaid, there was a lot of what I would consider trickery that went on. New Co.s were formed & as with the first deal was & will be lost, under the TARP to begin with there was no payback provision, I said long ago for the bank side I thought it was HUSH money, a gift. The Gov. still has like a 30% share of GM stock so a lot depends on how GM does & when stock is sold. At the time of TARP there was no other option, it was either a bailout or collapse & then there would have been a million + more on UC & retraining programs for jobs that don't exist.