Sell Off Of Auto Stocks Threatens To Cost Taxpayers Even More

Sell Off Of Auto Stocks Threatens To Cost Taxpayers Even More
Auto stocks fell sharply on Thursday amid a broader market selloff and growing concerns about auto sales in the second half of the year.

General Motors Co. hit a new intraday low since going public in November, falling to $23.30. It recently traded at $23.55, down $1.39, or 5.6 percent. GM is down 28 percent over its IPO.

At the current price, taxpayers could lose nearly $15 billion on their $49.5 billion bailout of the Detroit automaker.




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LexSucksLexSucks - 8/18/2011 2:10:31 PM
-2 Boost
We get it 009. You don't like Obama. Enough of these daily posts expecting everyone else to join in on your lunacy. Have you seen the latest crop of GOP presidential hopefuls? Sad bunch to say the least.


docholidaydocholiday - 8/18/2011 6:55:16 PM
+3 Boost
Lunacy would be thinking the Obama policies have made the US a better place. I look at the current administration and think anything is better than this.


MorePowerMorePower - 8/18/2011 8:41:04 PM
-3 Boost
@ docholiday

Lunacy is letting your bias ignore the fact that the problems we face in the U.S. are born out of decades of bad decisions: i.e. letting wall street lobby away the regulations that kept the country stable for nearly fifty years, the fact that the second Iraq war was pointless and nearly broke this country financially, the fact that under Bush Jr. the pharmaceutical companies lobbied the government to keep drug prices un-naturally elevated and killed a public option to bring down health care costs for all americans and the fact that the energy companies have been allowed to collude together to make record profits without upholding their agreement to be able to control and mitigate the costs of a spill.


docholidaydocholiday - 8/18/2011 6:57:46 PM
+2 Boost
It was either a bailout or pick up the legacy costs and the bailout was cheaper. The UAW would win either way.


mini22mini22 - 8/18/2011 8:02:10 PM
-5 Boost
When Obammy took office he was handled a pile of shit.He has made some mistakes for sure( like trying to reform health care and not spending the time wisely to get the unemployed working again). Frankly there is not one GOP candidate that offers anything that would help this economy.Why anybody who is not rich vote for a Republican baffles my mind. GOP favors big business,The rich with lower taxes. They do not favor the elderly,the sick or the poor. They never have and they will.We live in a more "feudal" society now then they did back in merry old England.Don't you get it that most of us are just a bunch of serfs trying to survive.


uaw_laxuaw_lax - 8/19/2011 1:06:18 PM
+1 Boost
because just letting the sick and elderly just die by doing away with social security is just inhumane.


AdmiralT20AdmiralT20 - 8/19/2011 6:10:39 PM
0 Boost
Because the average votes against his interest. Agent009 is a good example of those that consistently vote against their interest and blames the government for everything failing to understand he is part of the root cause of the problem.


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