National Taxpayers Union - Government Closes the Hatch on GM, Taxpayers Take the Loss

Blog Contributors

Brandon Arnold
Vice President of Government Affairs

Dan Barrett
Research and Outreach Manager

Demian Brady
Director of Research

Jeff Dircksen
Director of Congressional Analysis

Paul Gessing

Ross Kaminsky
Blog Contributor

David Keating
Blog Contributor

Douglas Kellogg
Communications Manager

Richard Lipman
Director of Development

Manzanita McMahon

Kristina Rasmussen
Blog Contributor

Lee Schalk
State Government Affairs Manager

Pete Sepp
Executive Vice President

Nan Swift
Federal Government Affairs Manager

Michael Tasselmyer

Government Closes the Hatch on GM, Taxpayers Take the Loss

Douglas Kellogg

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.

Comment on this blog

User Comments