Yes, the initial funds advanced under Bush were indeed loans. However, when 0bama forced them into bankruptcy, those and additional funds were converted into equity.
The UAW has indeed been forced to provide some relief from its constricting contracts, but they got equity for it, in much greater proportion than the bond investors got …
” …. the 2 car companies got loans …”
Yes, the initial funds advanced under Bush were indeed loans. However, when 0bama forced them into bankruptcy, those and additional funds were converted into equity.
The UAW has indeed been forced to provide some relief from its constricting contracts, but they got equity for it, in much greater proportion than the bond investors got …