Didn't GM already pay back all or the majority of the bailout money? Not that the tax payers will benefit either way. I can't help but to think that the deluge of problems with Toyota helped GM. Part of me felt like it was wrong and that the free market should dictate who does and doesn't stay in business. However what is called a free market is anything but and therefor, considering the ripple effect that any of those car companies going belly up would have had on the economy and the devastation to people's lives, I guess I'm ok with that aspect of the bail out.
GM paid back the loans with TARP money left in escrow that it didn't need to use. Money that wasn't use as GM ownership stock. Whether it's a "baloney story GM floated before their IPO after the reorganization" is, according to FactCheck, untrue in that the President was correct although the TARP funds were, as I said, repaid with existing TARP funds.
http://factcheck.org/2010/04/sunday-replay-2/As far as the remaining stock in the government's hands expect a sell later this year since the president doesn't want folks like lilMike to use it as an election issue next year.
