Government Down $16 Billion on GM Bailout

by Quietman ~PWCM~JLA Posted 2012/06/05 22:54:07

Related Topics: Obama, Romney, Gm, Alone, Government, Detroit, Percent, News

"At GM's Monday closing price of $21.11 a share, the government would lose $16 billion on its $49.5 billion bailout," the Detroit news reports.

Romney believes that this reason alone is why Obama won't sell the shares--since it would not be the politically expedient thing to do.

The government still owns 26 percent of GM, as it has for almost the last three years.

jdemme 2012/06/06 00:52:53

Yeah, GM's only the #1 motor company in the world.

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WhereIsAmerica? ~PWCM~JLA 2012/06/05 23:35:19

+1
No surprise here, Obama did the wrong thing! It would have been better to let GM straighten out their own problems as every other private company has to do. I have ZERO respect for Government Motors and Obama is a Socialist.

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HOMBRE 2012/06/05 23:01:11

+1
Obama communist motors I guess

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Son Of Anubis™ 2012/06/05 22:59:53

+1
But all the Libs have been saying it's such a great thing and he saved the auto industry and all those jobs and that GM paid back all of their 'loan' and are now doing 'really good'....you mean the Left lied about this? You don't say....and what does their Messiah say abiut the Governement still owning 26% of a supposed private company....it's more like a state run industry as seen in the Communist countries Odumbo so wants America to become.

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mal 2012/06/05 22:59:05

+1
That is facism for ya.

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