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Do you trust President Obama?
Current Debate Topic
General Motors has finally freed themselves of government ownership, at the taxpayers cost of $10.5 billion. On Monday December 9, 2013 the Treasury announced it sold the remaining shares in GM for a total of $9.2 billion. The Treasury was repaid $39 billion of the total $49.5 billion lent to GM.
In 2008 The Treasury started loaning General Motors the stimulus/bailout money in December 2008, the total the United States paid to them was $49.5 billion. When General Motors declared bankruptcy in June 2009, the US Government assumed a 61% stake in the company, and declared a series of restrictions, including caps on executives pay.
Was the enactment of restrictions to the company worth the loss of the taxpayers money? Should we have allowed the government interfere and ‘save’ a company in jeopardy of bankruptcy?
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