Wednesday, December 19, 2012

US taxpayers to lose over $24 billion from Obama nationalization of General Motors

12/19/12, "Treasury announces GM exit strategy; automaker buying 200 million shares from U.S.," Detroit News, Shepardson

"The Obama administration forced GM and Chrysler into bankruptcy as a condition of getting additional government aid. The administration forced out GM CEO Rick Wagoner and forced a tie-up with Fiat SpA.

The Treasury has said it expects to lose $24.3 billion on the $85 billion auto bailout."... (near end of article) via Drudge

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