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Government Has Lost $25 Billion on GM Bailout
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
teapartyeconomist.com / By Gary North / August 15, 2012
The Obama Administration likes to say that the auto bailout money was good for the economy. But when the government has lost $25 billion out of $85 billion spent, it does not seem like a good business decision to the rest of us.
According to the Treasury Department report, the GM bailout will lose at least $25 billion. That estimate is up by $3.3 billion.
What’s that? You mean the Obama Administration has known the Government Motors bailout was a money-loser all along? It did if they read the Treasury’s previous reports.
But weren’t the loans paid back? Yes, but the loans to the company were only part of the story. The bailout made the U.S. government an investor in GM stock. That investment has been a loser.
Thanks to BrotherJohnF
2012-08-15 13:02:56
Source: http://silveristhenew.com/2012/08/15/government-has-lost-25-billion-on-gm-bailout/
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