Ten Things The Taxpayer Should Know About The U.S. Auto Industry Now That They Own ItBy
As of the New Year, taxpayers will pretty much own General Motors, as well as Chrysler until that automaker is stripped or its assets flipped into GM. That’s because the market value of the two companies is less than the total amount the government is lending them to stay afloat, and because taxpayers are getting stock warrants in the companies equal to 20% of the loans.
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