OK. Maybe I'm wrong?https://www.reuters.com/article/us-autos-gm-treasury-idusbrea3t0mr20140430
"WASHINGTON (Reuters) - The U.S. government lost $11.2 billion on its bailout of General Motors Co (GM.N), more than the $10.3 billion the Treasury Department estimated when it sold its remaining GM shares in December, according to a government report released on Wednesday.
The $11.2 billion loss includes a write-off in March of the government’s remaining $826 million investment in “old” GM, the quarterly report by a Treasury watchdog said.
The U.S. government spent about $50 billion to bail out GM. As a result of the company’s 2009 bankruptcy, the government’s investment was converted to a 61 percent equity stake in the Detroit-based automaker, plus preferred shares and a loan..."
Jeez never happened before. Really?
Still a good move. Right?
it was the TARP that turned a profit
https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program
complain all you want
...me? I'm glad we still have GM
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