Treasury Confirms Sell Off Of All GM Stock By End Of Year - Total Loss On "Loan" Only $10 Billion

Treasury Confirms Sell Off Of All GM Stock By End Of Year - Total Loss On
The Treasury said it is speeding up its exit of General Motors Co., and now plans to sell its remaining 31.1 million shares by the end of December.

“If average daily trading volumes continue at recent levels, Treasury anticipates that it will complete the sale of its remaining shares by the end of the year. However, that schedule remains subject to market conditions,” the government said.

 

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Agent009Agent009 - 11/21/2013 9:44:06 AM
+2 Boost
Time to get this out of the way and write off the bad debt so they can focus on the Obamacare mess.





reaganeatbrainsreaganeatbrains - 11/21/2013 10:36:07 AM
0 Boost
the "mess" is gone as soon as the remaining states get off their lazy behind, and get their exchanges running.




Agent009Agent009 - 11/21/2013 1:38:44 PM
+2 Boost
Well the exchanges are way off base in pricing. So the problem is you were paying through your company $300 a month. They toss you to the exchanges and now you are at $550 a month with no subsidies.
a lot of people freak out when it cost $20 more a week for gas, so how are they going to afford $250 more a month for insurance and significantly higher deductibles?




vogeygolfvogeygolf - 11/21/2013 10:59:18 AM
+3 Boost
I will say this: $10 billion is a drop in the bucket compared to the cost of the Fed buying a trillion or more of Mortgage Backed Securities at all time low yields, driven by the Fed also buying treasury bonds, with yields driven down by all of their purchases. What that will cost the Fed in the long term is anyone's guess.

All in the name of trying to save consumers on their monthly mortgage payments, with the idea they'd go out and spend it. Wrong-many consumers refinanced into shorter term loans-thus no monthly savings and no spending for a significant number of consumers.


kysrsoze1kysrsoze1 - 11/21/2013 11:45:06 PM
+1 Boost
Thank you for pointing out the likely thousands of times larger travesty which taxpayers are getting stuck with... Including the disgusting bailout of AIG which allowed the banks to short their garbage loans which they had rolled into mortgage-backed securities and peddled to investors.

Anyone care to talk about the F-35 program which is projected to cost taxpayers $1.6 Trillion over its questionably useful life?
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