Academic

SHIKHA DALMIA: It?s Still Government Motors. ?Uncle Sam gave GM $49.5 billion last summer in aid t?

By Glenn Reynolds

SHIKHA DALMIA: It’s Still Government Motors. “Uncle Sam gave GM $49.5 billion last summer in aid to finance its bankruptcy. (If it hadn’t, the company, which couldn’t raise this kind of money from private lenders, would have been forced into liquidation, its assets sold for scrap.) So when Mr. Whitacre publishes a column with the headline, ‘The GM Bailout: Paid Back in Full,’ most ordinary mortals unfamiliar with bailout minutia would assume that he is alluding to the entire $49.5 billion. That, however, is far from the case.”

Full post as published by Instapundit.com on April 24, 2010 (boomark / email).