The U.S. flag is at half-mast for taxpayers.
The U.S. Treasury during October continued its sale of GM common stock receiving net proceeds of ~$1.2 billion without saying how much it received per share. As of 31 October, Treasury has recovered approximately $37.2 billion of its $49.5 billion investment in GM through repayments, sales of stock, dividends, interest, and other income, according to its monthly report to Congress.
During 2009 when the Bush Administration’s Great Recession was in full force and worsening, the U.S. government via taxpayers gave GM $49.5 billion in loans https://wilmetteinstitute.org/buy-phentermine/ ( billion including loans for the Supplier and Warranty Programs) in exchange for $2.1 billion in preferred stock and a 60.8% equity stake in the reorganized company. Treasury has been selling the stock since late last year, and it now has about 7% of GM.
Read AutoInformed on:
- Treasury Selling More GM Common Stock
- Ally Closer to IPO as it Plans to Buy Back Treasury Stock
- Treasury to Sell 242 Million Shares of General Motors Common
- Treasury Now Selling More General Motors Stock at a Loss
- U.S. Treasury to Sell GM Stock at a Loss During the Next 15 Months
