Q&A: When GM files for bankruptcy, How much of the stimulus money return to the tax payers?
Question by Messenger of God: When GM files for bankruptcy, How much of the stimulus money return to the tax payers?
The United States Government has invested billions of tax payer dollars into GM, Chrysler and Ford. I personally been against the government being involved with private industries and financial institutes.
Did you know that when a individual or corporation files for bankruptcy their dept is erased and their assets are liquidated.
How much of that money will the government get back?
Best answer:
Answer by mr. bojangles
Some big dickface lawyer will get it all. Us taxpaying cattle will get shit.
What do you think? Answer below!
You silly child, our token President and I know what is best and how to spend the money you sent us, why would we return it to you.
ZERO
GM will be undergoing a planned reorganizational bankruptcy – not a liquidation one. It’ll still be in business, although how it does business will be greatly changed. Future profits will pay back the debt owed.
Frankly I don’t like having to save it. I don’t care for GM products and their much-touted Volt appears to be an absurd scam. But GM is one of those “too big to fail” companies that we can’t let go under at this time.
naught times naught equals naught!
It will depend on the restructuring. and also any other payments made will depend on the restructure process also.
It is not like the US is going anywhere and we have to pull a “Stewy” to get our money back.
the only thing we are going to get is a big fat bill saying hey sorry we thought throwing x-amount of billions of dollars at this problem would work but it didn’t so sorry…here is your portion to pay it off.