BTW, We Are Not Going To Lose 14.3 Billion On The Auto Bailout

Discussion in 'Politics' started by bitterlyclingin, Nov 17, 2011.

  1. bitterlyclingin

    bitterlyclingin Silver Member

    Aug 4, 2011
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    (It'll actually be 23.6 billion. Doesn't socialism give you a nice warm, fuzzy feeling all over. Or, are you simply remembering the look on the Congressmen's faces when they passed that bill?
    The Sinaloa Cartel is busily looking for the formula of what the Congressmen were actually smoking when the passed the bailout. They want to make up a few million more batches of whatever it was and sell it to the rest of the 'Gringos'. Big bucks, there.)

    "Good News: We Won’t Lose $14.3 Billion on the Auto Bailout – Bad News: It Will Actually Be $23.6 Billion

    Word came late yesterday that the Barack Obama Administration had dramatically upped the estimated loss on the automobile industry bailout – from $14.3 billion to $23.6 billion.

    “The big increase is a reflection of the sharp decline in the value of (General Motors’) share price.”

    We the Taxpayers own 500+ million shares of General Motors (GM) stock. For us to break even, we must sell at $53 per. It is currently trading at around $23.

    GM’s foundering stock price – and our huge holdings thereof – is an alarm bell we at Less Government have long been ringing. And why we built How did our investment in Government Motors turn out? We'll lose $15,286,994,814.78: The site chronicles the looming GM stock price catastrophe – and proffers the real solution for the Obama Administration and GM to get us out without this titanic loss.

    Less Government President Seton Motley:

    “The Obama Administration yesterday acknowledged the reality we have long been pointing out – that General Motors stock is hopelessly below our break-even price. And that We the People will not – as the President once asserted – make money on the auto bailout."

    The PJ Tatler » Good News: We Won

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