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I think what the person meant in spirit is aligned with what happened in practice — GM’s shareholders were wiped out and the government (through chapter 11 rest
by aaronblohowiak 7y ago
I think what the person meant in spirit is aligned with what happened in practice — GM’s shareholders were wiped out and the government (through chapter 11 restructuring and investment) ensured it was a going concern and had a subsequent IPO (privitization) ..
- toomuchtodo 7y agoYep, exactly, although privatization isn’t a necessary component (Fannie and Freddie mortgage GSEs have been held onto as a public good).