Loan Turns To Gift As GM Bailout Losses Total $21 Billion And Counting

After selling 200 million shares of General Motors stock back to the automaker in a deal announced today, the U.S. Treasury Department will still own 300 million shares. The government plans to sell those shares in the marketplace “in an orderly fashion" within 12 to 15 months.

The $5.5 billion deal means the government has recovered $28.6 billion of its $49.5 billion GM bailout.

Read Article

Steve - 12/19/2012 4:05:20 PM

+3 Boost

We're finally calling a spade a spade, and recognizing this as a massive gift to GM, and not as an "investment." :-(

My hope is that when GP goes bankrupt the next time (or heading for it), The Feds say, "you made your bed, now sleep in it," and let the universe unfold as it should.

Typically, we must let go of the past in order to move forward. Sort of like divorcing a spouse with whom you're not a match in order to free yourself to discover a more appropriate relationship.

Steve - 12/20/2012 12:59:53 PM

+1 Boost

Typo: GP -> GM

MrEE - 12/19/2012 7:31:47 PM

+2 Boost

That's close to $8k per vehicle over this years GM production. Would have been a heck of a rebate paid direct to buyers.

lexworld - 12/20/2012 2:46:01 PM

+2 Boost

...Obama is and will be continually dismantling our country little by little as America continues to sleep and slumber. Better hide away some money cause extreme high taxes are on the way on every thing and asset u own!