US Government Sells Remaining Shares of GM

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The US government has sold the remaining interest in General Motors. It looks like US taxpayers will lose about $10 billion on the bailout of the company. (The US Government has recovered $432.7 billion on $421.8 billion spent on all TARP ‘investments’.)

I won’t weigh in on what this means for US taxpayers, but I do view it as a positive for GM. Without the ownership and oversight of the US Government, GM is now free to pay dividend and work on alternative financing including buying back some of the preferred shares and debt they have currently outstanding.

sources: Bloomberg News and Forbes

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