Monday, December 9, 2013

US Sells Remaining GM Shares And Takes Investment Loss

From The New York times, Dealbook, "U.S. Sells Remaining Stake in General Motors" by Annie Lowrey:
The Treasury Department announced on Monday that the government had sold its remaining shares of General Motors stock.

The government has thus exited one of the most controversial investments made during the midst of the financial crisis, when it stepped in to rescue the Detroit automakers – a decision that as many as three in four Americans opposed at the time.

Taxpayers recouped about $39 billion on the investment, the Treasury Department said, having spent about $50 billion bailing out the automaker.

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