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+---- Thread: What did GM use the $20billion for? (/thread-372406.html)
What did GM use the $20billion for? - THE NC Herd Fan - 06-03-2009 05:25 PM
Is anyone curious about what the $20billion GM got was used for and the bigger question what will the $30billion additional Taxpayer money be spent on? GM owed the Union $10billion for the pension fund that is forgiven for the UAW's 17% equity share. GM owed the bondholders $20billion and that is gone without any cash used. So the $50billlion question, what is GM doing with the money?
RE: What did GM use the $20billion for? - WoodlandsOwl - 06-03-2009 06:12 PM
Good question.
And like the other TARP money, I don't think they can tell you.
It doesn't add up, and until I see the copy of GM's confirmed plan of reorganization, I couldn't tell you.
I think GM owed the Union more than $10 billion on the pensions however.