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Government Closes the Hatch on GM, Taxpayers Take the Loss
December 19, 2012
The Treasury Department announced their exit strategy from the GM auto bailout today, and the bill taxpayers will receive will be in the billions.
According to the Detroit News, if Treasury sells their remaining shares at the current market price, taxpayers would lose $13 billion on the sale. ZeroHedge.com puts the total cost to taxpayers at more than $40 billion.
Needless to say, taxpayers got run over by the the government and powerful special interests. The question that remains is: will this all just happen in the future when, once again, the unsustainable business models and benefits of these companies drive them into a ditch.
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