04-08-2009, 01:04 PM
Mad Dog Wrote:Ok, so now I have another question?? We just gave GM Billions of dollars and today they were talking about going through chapter 11 Bankrupsy ANYWAY!! I assume the American tax payer will be on the hook AGAIN!! Does the Federal Government get its money back??
I would guess that would be a possible no, but it would depend on how GM came out of it I guess. Chapter 11 doesn't relieve debts very much, it just allows a company to reorganize without having to worry about paying their bills back until they can come out of bankruptcy.
"What you are about to see is top secret. Do not tell my mother."