Barack Obama: Losing $84 billion on GM big success
Is this what we wanted or voted for?
The stocks are nowhere near the price needed to avoid a huge loss.
25 Billion loss as described in the Congressional Oversight Report
Then of course GM got 45 billion in tax breaks-That’s revenue the Government will never see.
Barack Obama has some ‘splaining to do about taxpayers’ profitable “investment” in General Motors. However, the Obama administration and its allies presently continue to celebrate the success of the auto bailout, regardless of the facts. “I don’t think there’s any doubt that this was a success,” said (H/T Detroit News) acting assistant secretary at the Treasury Department Tim Massad, who oversees the TARP program at Treasury, to a House panel on Wednesday.
In Obama’s world, success mean taxpayerss only lost as much as $84 billion.