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Politics : Liberalism: Do You Agree We've Had Enough of It?
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To: Kenneth E. Phillipps who wrote (82862)4/29/2010 4:10:36 PM
From: TimF1 Recommendation   of 224749
 
No Ken. The taxpayers did not get their money back from GM.

The loan was only a fraction of the money GM received. It had earlier been bailed out with billions from the Bush administration, then there is over $40bil the government gave GM in exchange for an equity position.

The loan was "paid back" with other government money, and GM plans to ask for another loan soon. Also the loan itself was at a subsidized interest rate and the subsidy inherent in that rate will never be paid back.
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