http://www.freep.com/article/20131121/BU...government-sale

I think the Regime is using the Zerocare chaos to slip this by everyone. This is another tangible piece of evidence that shows Zero lying to the public when he said this bailout was going to not cost taxpayers any money....

Zitat

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The U.S. Treasury Department expects to sell its final shares of General Motors stock by the end of the year, concluding a controversial chapter of the automaker’s history more than four years after a federal bailout saved the company from liquidation.

The government announced this morning that it plans to continue selling its GM shares on a gradual basis in the open market, with the final 31.1 million shares sold by the end of the year.

The government’s exit is expected to help GM draw more interest from investors. It will also lift executive compensation limits.

At that pace, the U.S. is expected to lose about $10 billion on the $49.5 billion GM bailout, giving supporters and detractors ammunition to debate the success of the rescue started by former President George W. Bush and continued by President Barack Obama.

Obama has said the bailout saved GM, shepherding the automaker through an expeditious Chapter 11 bankruptcy, preserving millions of jobs and preventing an economic disaster. Critics said the government should not meddle in the private sector.

Indisputable is that GM has returned to profitability. The automaker recaptured its investment-grade credit rating earlier this year and returned to the Standard & Poor’s 500 Index in a key milestone, representing key benchmarks in the automaker’s financial revival.

“Treasury’s investment in the American auto industry was part of President Obama’s broader response to the financial crisis, and it helped save more than one million jobs,” Treasury Deputy Assistant Secretary Tim Bowler said in a statement. “Had we not acted to support the automotive industry, the cost to the country would have been substantial — in terms of lost jobs, lost tax revenue, reduced economic production, and other consequences. Our actions have enabled the industry to rebound.”

The government said it had recouped $38.4 billion from its bailout of GM as of this morning.

“While the U.S. Treasury’s equity stake draws to a close, our work to transform GM continues,” GM said in a statement. “We’re making great progress in our efforts to make the most of this second chance by building outstanding cars and trucks, creating jobs and reinvesting in our country.”

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We never did find out what happened to the $60 billion given to the avowed communist and “rowdy black nationalist” Van Jones by the Obama Regime to create mythical green jobs. Plus Solyndra and many more The Obama Regime is not a government. It is a looting spree.

Quote: Eglman wrote in post #2

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We never did find out what happened to the $60 billion given to the avowed communist and “rowdy black nationalist” Van Jones by the Obama Regime to create mythical green jobs. Plus Solyndra and many more The Obama Regime is not a government. It is a looting spree.

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