US Treasury Books $10 Billion Loss From $50 Billion GM Bailout

From The Detroit News, "Feds report $9.7B loss on GM shares" by David Shepardson:

The U.S. Treasury has booked a $9.7 billion loss on its $49.5 billion bailout of General Motors Co. on the sale of nearly all of its shares it received as part of its $49.5 billion bailout.***The taxpayers’ ownership stake in the Detroit-based automaker — swapped for more than $40 billion in loans, was initially 60.8 percent, but is now down to about 7 percent, the Treasury said.***Treasury would need to get $147.95 on its remaining shares to break even. That’s not going to happen: GM’s stock closed Wednesday at $35.80, up $0.21, or 1 percent. At current trading prices, the government’s remaining stake is worth about $3.6 billion. At current stock prices, taxpayers would lose about $10 billion on the bailout when all the stock is unloaded.