GM is hovering around $30 per share with pressure to drop into the low $20s. Shares have been hurt by rising fuel prices, industry production disruptions and management turnover.
"Planning for the sale of our remaining GM stock is still at an early stage, and the IPO lock-up does not expire until late May," a Treasury spokesperson said.
The US Govt still owns 500 million shares of GM, after the IPO sale. GM at $30 results in a taxpayer loss of $11 Billion.
Recall, Chrysler was also bailed out by Obama, and has already stuck taxpayers with a hefty $7 Billion in loans buried neatly inside their bankruptcy filings. The money is gone.
Lets not get into the full TARP fiasco, you may get angry.
