Posted on 12/09/2013 4:08:46 PM PST by Dallas59
The U.S. government ended up losing $10.5 billion US on its bailout of General Motors, but still says the alternative would have been much worse.
Treasury Secretary Jacob Lew announced Monday that the government sold its remaining shares in the Detroit automaker.
The government received 912 million GM shares, or a 60.8 per cent stake in the automaker, in exchange for a $49.5 billion bailout during the financial crisis in 2008 and 2009. It recovered $39 billion of the money, meaning taxpayers came up more than $10 billion short.
(Excerpt) Read more at cbc.ca ...
Sorry I mis-spoke.
Barra was in charge of the brand new, z-28.
She’s been at Chrysler her entire career, started there in her teens as an intern. Studied engineering, and even ran a stint at HR, though she is primarly from operations.
I think she’s the second-highest placed female CEO in America now. She is from Michigan and seems strong.
I’m a fan so far.
Welcome back Chrysler.
Me too and I love the Chevy Suburban. Of all the government did, and I hate the bail outs with a passion, stealing from the bondholders was a horrible precedent. What did bondholders do? Are there lawsuits?
Absolutely. Or people should say out loud; “That’s a one after the dollar sign with ten zeros before the decimal point.”
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