Money to Burn: $9.7 Billion Loss on GM Bailout

October 30, 2013

money-to-burn-gif

Remember how the auto bailout was going to save Detroit (it didn’t) and keep American auto companies out of bankruptcy (it didn’t)? Another one of President Obama’s promises was that taxpayers would see full repayment of the bailout loan, about $60 Billion. Today the US Treasury reported a $9.7 Billion loss on the sale of the GM stock portion of the bailout. Details here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: