Government Sure Knows About Investments!

[longknife]

U.S. plans to exit GM stake by year-end, may lose $10 billion

WASHINGTON (Reuters) - The U.S. Treasury Department said it expected to sell its remaining shares of General Motors Co by the end of the year, a plan that may leave taxpayers with a shortfall of about $10 billion on the automaker's 2009 bailout. Treasury on Thursday said it had completed the sale of 70.2 million shares of GM stock and to date had recouped $38.4 billion from the $49.5 billion taxpayer-funded rescue of the Detroit company. At current prices, Treasury would recoup another $1.2 billion from its remaining stake, bringing its total recovery to $39.6 billion.

Read story @ U.S. plans to exit GM stake by year-end, may lose $10 billion

 

[HenryBHough]

Takes a genuine food to buy any vehicle made by Government Motors. OK, if you're on welfare and got your free Obamaphone then maybe you can be excused if you accept a free Chevy Volt. But good luck trying to sell it as tho it were a food stamp.

 

[william the wie]

Delaying the collapse of GM is not as strange as Chrysler getting a second bail out.

 

[LTCArmyRet]

The American taxpayer paying a bill that should have been paid by GM stockholders. The U.S. Treasury had no business buying GM stock in the first place.