GM bankruptcy to cost taxpayers
Posted by admin . Published on 29 May 2009, Received
The US tax payers are expected to lose billions of dollars, if the General Motors goes bankrupt, as per a study by New York University’s Stern school of business. The sinking company has already gobbled up to 50 billion dollars of tax payers money, which may not come back, if the company does not do well, even after restructuring.
The study says that there is no guarantee of viability of the company after restructuring due to uncertain economic environment. If the company fails even after the restructuring, all the tax payers money that has gone into it will go waste and will not come back.
