Bailout Complete? Fed Moves To Rid Itself Of All Remaining GM Stock

The U.S. Treasury on Thursday filed its third pre-defined written trading plan as it moves to sell off its remaining 101.3 million shares of General Motors Co. stock it received as part of its $49.5 billion bailout.

“Treasury will continue to wind down the taxpayer’s investment in GM, a critical part of the administration’s response to the financial crisis that prevented the collapse of the American auto industry and saved more than one million American jobs,” said Tim Massad, Treasury Assistant Secretary for Financial Stability. “The third trading plan will allow us to continue exiting the investment in accordance with our previously announced timetable while maximizing the taxpayer’s return.”

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TheSteve - 9/27/2013 1:29:08 AM

+3 Boost

The articles says “...Treasury will continue to wind down the taxpayer’s investment in GM...”

Investment? Bailouts are NOT an investment. An investment is a transaction in which the investor (Tax Payers, in this case) have a reasonable chance of making a profit. The Fed-orchestrated bail-out merely borrowed a huge pile of money the government didn’t have, gave the money to GM, and gave the bill to the tax payers.

Make no mistake. This was no “investment.” It’s a loan, in which the tax-payers have assumed the debt, while GM got the benefits.

If you want to make this an “investment,” how about having the now “profitable” New GM give back the bailout bucks to the tax payers? Fat chance!

reaganeatbrains - 9/28/2013 5:49:56 PM

+1 Boost

probably should've just let china INVEST in GM. that would've ended up much better