Skip to comments.Obama touting GM bailout on campaign trail, but Americans still own 500mil shares
Posted on 10/16/2011 1:53:48 PM PDT by matthewreporter
President Obama glowingly defended the $85 billion auto industry bailout during a speech to Detroit auto workers Friday, saying the investment was worth it.
But the government still owns 500 million shares of General Motors which, if sold at todays market price of $20 a share, would leave taxpayers on the hook for $16.5 billion in losses.
The U.S. would have to sell its GM stock per $53 a share to break even, far higher than the $20 it is trading at now.
The stock liability puts the Obama administration in a double bind. If the stock were sold all at once, the market would be flooded with a half-billion shares, causing a precipitous drop in price and even greater losses for the United States. But holding on to them leaves a multi-billion dollar albatross around his neck, making the presidents rhetoric championing the unqualified success of the bailouts ring false.
(Excerpt) Read more at thedc.com ...
GMs Diversity Vision is: A winning culture of inclusion that naturally enables GM employees, suppliers, dealers and communities to fully contribute in the pursuit of total customer enthusiasm. To learn more about GMs Diversity Initiatives, visit the GM Diversity Initiatives section.Jobs for all who comply.
Isn’t this what occupy protest are about partly, corporate bailouts... Yet where are they when their head dog does this junk and speaks about it.
How’s GM doing overseas?? Bet they’re making money hand over fist with no union hoods.
Your ninth excerpted thread today all from the same source and not a single reply from you.
The sad part is that I find conservatives here support the bailout..
What is your point?? Do you support the bailout??
Yeah, they don’t seem too interested in going after Obama when he’s involved in this kind of stuff. They don’t appear to be too opposed to Obama’s bailout of GM on the taxpayers’ backs, or of the Solyndra stuff — which reeks of backroom dirty politics.
I reply to your threads. You know where I stand.
I’m just trying to get blogpimp here to reply to his own threads. That would be nice, wouldn’t it?
And Hussein has no intention of getting it out of government hands any time soon.
And just exackly what kind of transpotation does the king ride around in?
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