The Residential Real Estate Post-Crash Index-Moderated Message Board

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Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated

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To: Jim McMannis who wrote (564)	1/13/2011 12:31:54 AM
From: Broken_Clock	1 Recommendation of 119361

Ted has me on ignore. Maybe you can enlighten him. -g- Govt cut chances of GM taxpayer recovery: panel Government reduced chances of full taxpayer recovery by selling GM shares at $33, panel says Email Print Companies:General Motors Company Common S Related Quotes Symbol Price Change GM 38.62 -0.13 Marcy Gordon, AP Business Writer, On Thursday January 13, 2011, 12:12 am WASHINGTON (AP) -- A new report from a congressional watchdog says that when the government sold a block of its shares in General Motors for $33 each, it reduced the chances of taxpayers fully recovering their $50 billion investment in the auto giant. The report issued Thursday by the Congressional Oversight Panel notes that the $85 billion bailout of GM, Chrysler and auto lender GMAC -- now known as Ally Financial -- appears to have put them on the path to financial stability. But it says the companies still face uncertain futures and taxpayers remain at risk. Government officials say that GM's stock price averaged only 3 percent above $33 in the month following the November initial public offering of stock, confirming the IPO was fairly priced.

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