Treasury Department Scrambles To Unload Remaining Shares Of GM Stock

The U.S. Treasury is accelerating its sell-off of stock in General Motors Co., which likely will be free of the moniker “Government Motors” by spring.

The taxpayers’ ownership stake in the Detroit-based automaker, once more than 60 percent, is now down to 7.3 percent.

According to documents filed Tuesday on the Treasury’s website, the government has 101 million remaining shares, and it intends to sell them by March.

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mrcassis - 9/18/2013 1:37:00 PM

-1 Boost

Alllllllllllllllllright conservatives/regressives/tea party loyalists. It's our time again!!! Our singular reason for existance!!! LLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLets get ready to bash Obamaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa!!!!!!!!!!!!!!!!!!!!!

randy3023 - 9/18/2013 3:19:31 PM

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Had President Bush and Congress bothered to ask their constituents for their opinion on the value of TARP and all these bailouts back in 2008, polls indicate the response would have been overwhelmingly "No".

The elected officials could have listened, but chose not to. The bastards (for whom I voted) went ahead and splurged in spite of the lack of public support.

They certainly had the right to do so, as they must only answer to the consequences of their actions in therms of elections.

Hm, so how did those November 2008 elections go?

Well... Bush signed TARP into law in early October 2008, and lo and behold McCain lost the Presidential election just a month later. Meanwhile, Democrats also had huge victories in the House and Senate.

FAIL.

But wait, there's more! Utterly defeated and apparently dumbfounded, Bush and the Republican party then sneakily announced their intention to hand out billions of dollars to GM and Chrysler -- conveniently just a month later, after the elections were over.

DOUBLE FAIL.

Speaking as a republican, the loss of trust was unforgettable and unforgivable. These people have permanently destroyed the party they claimed to represent, the Republican Party. Today, the end of this party is now seen as inevitable. Sad.