STIMULUS! Will GM Spend Taxpayer Bailout Money on Overseas Operations? “GM’s Chief Executive Fritz Henderson recently announced that the bailed-out automaker might use its U.S. funds to help restructure its European unit Opel, noting that the financing agreements with the Treasury for the $34 billion of bailout funds already spent allow GM to spend any subsequently earned funds as its executives see fit. Some $16 billion remaining after its bankruptcy has strings attached. In a world where funds are fungible, where GM has yet to repay the $50 billion bailout, and where GM only remains in existence because of those bailout dollars, critics argue sending these funds to Europe is essentially the same as sending taxpayer dollars overseas.”
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