A loss of $10 BILLION on the government bailout of General Motors? They really do need to change the name to Government Motors. :/ ----- ...The Treasury, which initially held 60.8 percent of GM as part of the U.S. $49.5 billion bailout, now owns just 16.4 percent, or 241.7 million shares. In December, the Treasury sold GM 200 million shares of its stake for $5.5 billion to reduce its stake to 300 million shares. In total, Treasury has recouped $30.6 billion. At current trading prices, Treasury would lose around $10 billion on its GM bailout.
Posted on: Thu, 06 Jun 2013 21:38:29 +0000
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