GM Stock Would Have to Increase Tenfold for Government to Recoup Money

[Dont Taz Me Bro]

Another great example of what happens when the government interferes in market activity. Taxpayers lose.

GM Stock Would Have to Increase Tenfold for Government to Recoup Money | Washington Free Beacon

 

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Wondering if having all those tax dollars going up in smoke is going to add to the greenhouse gasses?

 

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Related article: Taxpayers Liable For The Cost Of Poor Public Policy In GM Bailout - Investors.com

Federal Meddling: Remember the promise that taxpayers would get back every dollar taken from them and dumped into the General Motors bailout? The promise is coming up about $10 billion short.

All told, GM ended up with some $50 billion in direct cash, loans and bankruptcy aid. The bailout began with $13.4 billion from President Bush's Troubled Asset Relief Program and was topped off with another $30.1 billion in May 2009. The Obama administration provided a full $36 billion of the total.

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