GM to buy back stake from Treasury; government may lose billions

GM to buy back stake from Treasury; government may lose billions. The sale will mean “Treasury has recovered to $28.6 billion of the $50 billion bailout GM received. With $20.9 billion left from the original bailout, the government would have to sell its remaining shares at an average price of $69.72 to break even.” Buy high, sell low: hand out billions in OPM to your cronies and win re-election. What’s not to like?

Author: Bonfire of the Absurdities

After 35 year career writing software for IBM mainframes, am now self-employed contractor thinking of joining a union and striking for higher wages. Cured morbid fear of heights when I learned to look at them as lengths standing on end. Uncompromising in refusal to accept browser cookies. Amateur investor who has accumulated a small fortune in the market after starting out years ago with a large one. For recreation, I run, hike, kayak and play tennis but will not consider synchronized swimming under any circumstances.

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I HATE THE MEDIA ™
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