GM Payback: Help me understand this? !!

So, GM gets a total of 52 Billion in US government Aid (sucked from the taxpayer) and they Consider 6.7 Billion pay back fully meeting their obligation? (8.1 billion paid back, 6.7 to US, 1.4 to Canada)

This smells like a stock scheme. Borrow 52 billion from the taxpayer, only ask for 8.1 billion back. They (GM) offers public stock later this year under the false belief that they are profitable. Take a portion of that money from the stock purchases by the public, and buy the government stock back?

So the taxpayer funded their bailout, and now we will repay the loan via stock purchases, GM never actually feeling the total bite of the 52 billion? That loan never coming out of their pockets, never facing the responsibility for their actions?

They cut nearly 70,000 Union jobs and reductions in the Pension, and moved more manufacturing over seas which had generated enough profits to pay this back. The truth is that GM is a taxpayer funded sinking ship, and not viable as it is currently structured. We are just funding the same behavior, the same failed business plans by being their crutch.

Quote From the AP (reported on MSNBC:

"DETROIT -- General Motors Co. has repaid the $8.1 billion in loans it got from the U.S. and Canadian governments, a move its CEO says is a sign automaker is on the road to recovery."

"GM got a total of $52 billion from the U.S. government and $9.5 billion from the Canadian and Ontario governments as it went through bankruptcy protection last year."

"But during bankruptcy, the U.S. government reduced the loan portion to $6.7 billion and converted the rest to company stock, while the Canadian governments held $1.4 billion in loans. "