Re:America's bailed-out airlines are not 'playing fair' with...
by greglindahl on Saturday March 28, 2020 @10:08PM
(#22715799)
You're pretty confused if you think "the company" won if the taxpayer didn't. In the GM case, "the company" was owned by shareholders who lost 100% of their equity. The bondholders lost a lot, too.
Getting a 3.5% return over that time period didn't account for the risk that they took. They should have ended up at least doubling their money at the cost of the shareholders/equityholders that remained.