cchuba Wrote:
Sep 17, 2012 2:54 PM
GM does not have to give us 'our money back' because the U.S. gov't traded all of the DIP financing money that we gave them into a 40% ownership for the company. In other words, we traded equity for debt. I hate the GM bailout but it is incorrect to accuse them of being dishonest for not using all their available cash to 40% of their share holders at the expense of all of their other share holders. They could give a dividend but their cash reserves would have to be 3x as large to make us whole.