Find where in this post I said it was a failure. I don't think governments role is to bailout business. I understand why it happened, have read in detail how it was strutured and I understand there is not a single thing I say that matters to the process.
I don't think we will ever pay our debt down to 25% or even that would be a good thing. That wasn't part of your orginal bet.
-"If you want to be technical GM doesn't owe you a dime, the government borrowed it from China and you're never going to pay it back, but I'll bet you GM does" -.
If you really want to be technical, the money to fund all this was borrowed from the future earnings of my kids and grandkids. China doesn't hold the note to GM, the taxpayers do and they will pay it through reduced future earnings and an inflated dollar.
I will give GM the same terms as a 10 year Treasury note. In 2018 they still will not have made the U.S. Taxpayer whole on the loan they recieved.
I can't find anything that says paying down the national debt is tied to GM. Let's make two bathides that GM doesn't pay back our government and that even by 2018 they will not have paid off the taxpayers. If you want to be techincal they have a loan that never has to be paid off in the form of stock. Our government is not going to ever make back even it's principal on that stock holding.
The only thing dumber is that now Romney is saying he will sell it regardless of what the price of the stock is at.
So let's bet the two bathides or three or whatever you want, leave what the Federal government is doing with it's debt out of it and just be whether GM makes it's debt to the taxpayers good. I say no way they will even get the principal back.
Nemont
