GM Repays More Bailout Debt

By: Associated Press
By: Associated Press

The government has received another $2.1 billion in repayments from General Motors Corp.

The Treasury Department says it received that amount when GM repurchased preferred stock it had given to the government as part of the bailout agreement.

The transaction follows GM's initial public stock offering last month which brought the government $13.5 billion. The government put $49.5 billion into GM as part of its bailout of the giant automaker.

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  • by Anonymous on Dec 15, 2010 at 12:30 PM
    Only a other $51 billion dollars to go, and the taxpayers will be paid off.
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