In short, GM is using government money to pay back government money to get more government money. And at a 2 percent lower interest rate at that. This is a nifty scheme to refinance GM's government debt—not pay it back!
It's pretty simple math. A bit was an actual loan, while the rest was purchasing shares. I frankly hate that my tax dollars went toward this and think GM needs to go bankrupt. Sadly now our governments have a large stake in the company so if they did, it would be a huge loss to both countries. Total fucking bullshit. Companies shouldn't be allowed to get so big that a national economy will collapse if they do. Fucking Capitalism. It's too bad every other ideology has been shown to be worse because this system SUCKS.
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