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?
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