Quote:
Originally Posted by Lakeshow
Seems a little light on the numbers in my opinion, I wonder if that includes the pre-bailout bailout that George W. gave them.
Then add the amount they will lose when they sell the remaining GM shares...
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I'm pretty sure the $19 Billion includes the funding provided while Bush was in office.
The article also mentioned the $19 Billion includes the loss the taxpayers will likely take when selling the government's interest in GM and Ally but it doesn't specify when the govt plans to sell their shares or what share price was used to calculate the losses.
Call me a conspiracy theorist, but my bet is the Treasury will split-up Ally and bankrupt the ResCap unit and then sell the automotive operations to GM in a sweet-heart deal. GM's newfound equity in Ally will allow them to buy-out the Treasury and all of this will happen before the elections in November.
