Treasury: U.S. to lose $25 billion on auto bailout

Discussion in 'Politics' started by Freewill, Aug 14, 2012.

  1. Freewill
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    Freewill Gold Member

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    Just the other day did the POTUS say that GM has come ROARING back???? Really Mr. President? I think he was having a 57 states moment.

    Treasury: U.S. to lose $25 billion on auto bailout

    From The Detroit News: Treasury: U.S. to lose $25 billion on auto bailout | The Detroit News | detroitnews.com

    On Monday, GM stock fell $0.07, or 0.3 percent, to $20.47. At that price, the government would lose another $850 million on its GM bailout.

    The government still holds 500 million shares of GM stock and needs to sell them for about $53 each to recover its entire $49.5 billion bailout. At the current price, the Treasury would lose more than $16 billion on its GM bailout.
     
  2. Shelzin
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    Shelzin Equal Opportunity Asshole

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    So......... Don't sell the shares yet.
     
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  3. AmyNation
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    AmyNation Road Warrior Supporting Member

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    We own stock. Who would sell stock at a low point? :rolleyes:
     
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  4. Shelzin
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    Shelzin Equal Opportunity Asshole

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    Well... As a whole I don't think the US government is very bright with money... But boy this does seem kind of like a no brainer doesn't it?
     
  5. edthecynic
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    edthecynic Censored for Cynicism

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    Anyone remember this?
     
  6. Claudette
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    Claudette Gold Member

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    Tax money should never have been used to bail out GM, Chrysler or any other Company.

    Ford took out a loan and bailed themselves out.

    The Govt shouldn't be in the business of bailing out companies. NO way. No how.
     
  7. edthecynic
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    edthecynic Censored for Cynicism

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    You miss the point!

    This stab from the past is to point out how the Right is pissed off that the loss has been cut drastically in a little over a year, and may well be even less than the 9.7 billion it is now if the stock keeps going up.
    Get It?
     
  8. Claudette
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    Claudette Gold Member

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    The bail out should never have happened in the first place.

    Get it??
     

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