“The U.S. government plans to sell a significant share of its remaining stake in General Motors Co. this summer…
At Monday's price, and taking into account shares sold during the IPO, taxpayers would lose more than $11 billion on the rescue if the government dumped the rest of its stake now.
A summer sale makes it more likely Treasury could sell all of its stake in GM by year's end, avoiding a potentially controversial sale in the 2012 presidential election year.”
1) This was a UAW bailout. The insane entitlement mentality of the UAW destroyed GM. Obama rescued them -- simple as that. At the current stock price, this would amount to a purely political; utterly corrupt $11 billion GIFT to the UAW union thugs -- a “gift” funded with money stolen from tax payers against their will.
2) As you can see from the above quote, Obama puts his reelection ahead of the interests of the tax payers AND the country -- anybody surprised?
They took NO government money!
Update: Or did they?
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