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Obama's Auto Bailout: Then and Now

- December 10, 2013

SHOT: Today, The U.S. Treasury Sold The Last Of Its Remaining Shares Of GM, And Taxpayer Loss On The GM Bailout Finishes At $10.5 Billion. “U.S. taxpayers no longer own any of automaker General Motors. The Treasury sold the last of its remaining 31.1 million GM shares today. The taxpayer loss on the GM bailout finishes at $10.5 billion, with 39.5 billion recovered, according the the Treasury Department. Shares closed today up 73 cents, 1.8% at $40.90.” (James R. Healey, “Government Sells Last Of Its GM Shares,” USA Today, 12/9/13)

CHASER: July 2010: President Obama Said, “We Are Going To Get Back All The Money That We Invested In Those Car Companies.” (ABC’s, “The View,” 7/28/10)

Obama, November 2010: “American Taxpayers Are Now Positioned To Recover More Than My Administration Invested In GM. And That’s A Very Good Thing.” OBAMA: “Today, one of the toughest tales of the recession took another big step towards becoming a success story. General Motors relaunched itself as a public company, cutting the government’s stake in the company by nearly half.  What’s more, American taxpayers are now positioned to recover more than my administration invested in GM. And that’s a very good thing.”  (President Barack Obama, Remarks On The United States Auto Industry, Washington, D.C., 11/18/10)


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