Treasury Department Plans To Be Knee Deep In GM's Business For The Time Being

In a Detroit News interview this week, Tim Massad, the assistant Treasury secretary who oversees the $700 billion Troubled Asset Relief Program, said investors aren't giving GM enough credit. He offered no timetable on when the government will complete its exit of GM.

"Our perspective is that the company has made real progress, but the market hasn't given them as much credit for that as it might," Massad said.

Last October, the Treasury shifted course and said it no longer planned to exit GM, as soon as practical, in the face of the steep sell-off in the stock.

ThierryHenry14 - 5/10/2012 4:27:57 PM

+1 Boost

I cannot wait to see what their excuse is if someone goes to the WTO and accuses them of illegal subsidies and government ownership of corporations. Nationalisation is nationalisation. No excuses.

PLAY - 5/10/2012 9:19:23 PM

+1 Boost

The WTO isn't going to do anything. I don't think there is an automaker out there who isn't being subsidized by its respective government.

ThierryHenry14 - 5/11/2012 11:46:43 AM

+1 Boost

I agree with you, and when you are the enforcer of the WTO, an NGO whose powers are granted by an at-will contract, theres nothing anyone could do...

MorePower - 5/11/2012 6:20:06 AM

+1 Boost

If GM is profitable, the government better keep its interests "knee deep"! GM owes the American people big time for saving its ass!