USA TODAY: The General Motors bailout may have cost the government $10 billion, but GM CEO Dan Akerson rejects any suggestion that the company should compensate for the losses.
He says Treasury officials took the same risk assumed by anyone who purchases stock.
“I would not accept the premise that this was a bad deal,” Akerson said during a question-and-answer session at the National Press Club in Washington. He also said the government’s $49.5-billion aid to GM helped save billions of dollars in tax revenue and government social services… (more)
EDITOR: When the government bought the stock, it might have required GM to accept a ‘Put’ whereby it agreed to purchase the stock back at the purchase price plus interest.
