We're almost in the black with our investment in G.M. Only $20 billion to go.
General Motors "may go public in the second half of this year, and its stock market value could top $50 billion, more than Ford's $40 billion."
Ford took on $23.6 billion in debt to avoid becoming dependent on Washington, whereas GM shed much of its debt by becoming dependent. Washington ... turned most of its $50 billion loan to GM into 60.8 percent ownership, the United Auto Workers got 17.5 percent for forgoing a $20 billion health care claim against the company, and Canada's government got an 11.7 percent stake for $9 billion.
For a short history of the U.S. automobile manufacturers, see Intersection for a Disaster by George Will, April 8, 2010.
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