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Keyword: gmcoverup

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  • GM Wealth Redistribution Cover-Up

    09/17/2012 8:45:57 AM PDT · by Positive · 11 replies
    Wall Street Journal ^ | 9/17/2012 | Self
    This is an exerpt that illustrates my point: "At GM's Friday share price of $24.14, the U.S. would lose about $15 billion on the GM bailout if it sold its entire stake. While GM stock would need to reach $53 a share for the U.S. to break even, Treasury officials would consider selling at a price in the $30s, people familiar with the government's thinking have said." The real Elephant in the Room is that $15,000,000,000 would be locked in as a transfer of wealth from the taxpayers to the United Auto Workers. Of course, on the other hand, if...