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Author Topic: Guess How Much US Taxpayers Lost On GM Bailout? Hint: More Than They Estimated Back to Topics
Tacodan
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Cincinnati

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Message Posted: Apr 30, 2014 6:32:11 PM

The U.S. government, which really means we the taxpayers, lost more on the GM bailout than the Treasury Department initially claimed we would. According to a new government report released on Wednesday, US taxpayers lost $11.2 billion on the bailout for General Motors Co., which is obviously more than the $10.3 billion the government estimated when it sold its remaining GM shares on December 9, 2013.

The $11.2 billion loss even includes a write-off back in March pertaining to the government’s remaining $826 million share investment in “old” GM, says the quarterly report from the Treasury watchdog.
The U.S. government spent about $50 billion to bail out GM, which went through a 2009 bankruptcy. The government’s investment was then converted to a 61 percent equity share stake in the........
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REPLIES (newest first) Post a Reply
lesndave
Champion Author Texas

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Message Posted: May 1, 2014 11:14:33 PM

Can't say this surprises me
DanMtz
Champion Author Oakland

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Message Posted: May 1, 2014 7:46:19 PM

That's the cost of years and years of mismanagement at GM.
BBopp
Champion Author Dayton

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Message Posted: May 1, 2014 5:48:06 PM

The tax payers & consumers are the ones that lost.
MadFueler
Champion Author Winston-Salem

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Message Posted: May 1, 2014 1:10:03 PM

Hmmm, were they dumping something they didn't know how to manage, or were they cutting their losses before the lawsuits came in?
bklynse
Champion Author Los Angeles

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Message Posted: May 1, 2014 11:07:44 AM

This was a bad deal from the very start and it only continues to get worse and worse
v240
Champion Author Pennsylvania

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Message Posted: May 1, 2014 10:50:30 AM

Not only has GM not fully repaid the loan(s) - not even close - recent news demonstrated that they are using "old GM" as an excuse to avoid responsibility for major safety problems with their vehicles.
Talk about irresponsible company leadership (on the part of GM) and irresponsible lending (on the part of Washington) !!
LanguageMan1
Champion Author Tampa

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Message Posted: May 1, 2014 10:45:49 AM

Hellm, RoadKing95, you forgot that Obama and the rest of Congress and the lobbyists from GM, the big Banks and others were the ones who put the deal together and Bush signed off on it like Obama signs off on stuff. But no, none of you that love Obama or the Democrats just like so many that still love Bush or the Republicans can ever deal with the truth.

Obama is nothing but a liar and I approve this statement. The rest of Congress fits right in with him, or at least 97% of it.
bart_reed
Champion Author Los Angeles

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Message Posted: May 1, 2014 10:45:40 AM

Many billions.
LanguageMan1
Champion Author Tampa

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Message Posted: May 1, 2014 10:42:34 AM

LOL! I have been trying to tell people that there was more to it and that GM has NOT fully repaid them [and they haven't with what's not officially on the books per se] and people said they paid back the government and with a profit. Uh hah, yeah, RIGHT!
badbonita
Champion Author Syracuse

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Message Posted: May 1, 2014 9:11:16 AM

Too much but then the bank bailout was too much as well. Our government gives away loans to seemingly any company requesting a handout that can give them a good excuse even more frivolously than the banks gave out home mortgages
ybegood
All-Star Author Cincinnati

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Message Posted: May 1, 2014 9:03:21 AM

Not a lot compared to the $ spent on Wall Street and still NO ARRESTS! X-(
Grizdad
Champion Author Montana

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Message Posted: May 1, 2014 6:49:33 AM

Not your grandpa's GM. Surprised the media is actually covering this…

All for a company that puts out a death trap that is the Cobalt.
ooohgas
Veteran Author Ohio

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Message Posted: May 1, 2014 5:33:03 AM

not suprised
iFueler
Champion Author Durham

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Message Posted: May 1, 2014 4:21:11 AM


     ok
pricewar
Champion Author Ogden

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Message Posted: May 1, 2014 1:09:42 AM

Ya we should be getting dividend checks
el_fr
Champion Author Massachusetts

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Message Posted: May 1, 2014 1:00:06 AM

I want a free car for my money
danindenver
Champion Author Denver

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Message Posted: May 1, 2014 12:55:24 AM

THIS is the place for a Constitutional Amendment.

Never again should taxpayer money be used to benefit a politician's favorite commercial enterprise.

mrkiddd125
Champion Author Detroit

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Message Posted: May 1, 2014 12:37:22 AM

I lost nothing
toadNY
Champion Author Albany

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Message Posted: Apr 30, 2014 11:20:37 PM

But RoadKing95, Obama claimed Victory in the bail out!
dfd1983
Champion Author Florida

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Message Posted: Apr 30, 2014 11:15:10 PM

hmm
toadNY
Champion Author Albany

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Message Posted: Apr 30, 2014 11:04:30 PM

Like Obama care!
lippoe_sokan
Champion Author Provo

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Message Posted: Apr 30, 2014 11:04:10 PM

Not surprised in the least!
jpgilmor
Champion Author Houston

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Message Posted: Apr 30, 2014 10:52:59 PM

Wow
bevmill
Champion Author Georgia

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Message Posted: Apr 30, 2014 10:37:37 PM

This doesn't surprise me.
gcalleja
Champion Author Miami

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Message Posted: Apr 30, 2014 9:59:26 PM

Did anyone not expect this?
GuitarmanMS
Champion Author Mississippi

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Message Posted: Apr 30, 2014 9:20:58 PM

No surprise
RoadKing95
Champion Author San Jose

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Message Posted: Apr 30, 2014 9:19:32 PM

Remember to thank GW Bush for putting such a bad deal together.
MyRedSky
Champion Author Orlando

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Message Posted: Apr 30, 2014 9:02:14 PM

oh goody a bailout. gotta pay my taxes. yippee.
md11capt
Champion Author Denver

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Message Posted: Apr 30, 2014 8:53:34 PM

Another regressive rag.
humblepie
Champion Author Toledo

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Message Posted: Apr 30, 2014 8:50:10 PM

this still isnt even a true figure, that we will never know
FocusST2
Champion Author North Carolina

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Message Posted: Apr 30, 2014 8:48:47 PM

Why is anyone surprised at this? Besides DC has us the taxpayers to fund their agendas. Wake up America, your current tax bill is $100K+ currently and your debt is owed to China.
Zuegma
Champion Author Nova Scotia

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Message Posted: Apr 30, 2014 7:41:27 PM

The sad part about the GM boondoggle is that the real culprits of the financial meltdown were not brought to bear nor to change their practices.
csblesson
Champion Author Texas

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Message Posted: Apr 30, 2014 7:38:15 PM

All our money
bwatchingu
Champion Author Arkansas

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Message Posted: Apr 30, 2014 7:26:51 PM

Blame Obama.
davenles
Champion Author Texas

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Message Posted: Apr 30, 2014 7:23:52 PM

A billon is pocket change for our elected elite.
reidlej
Champion Author Columbus

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Message Posted: Apr 30, 2014 7:14:57 PM

Let's see, $11.2 billion among 300 million Americans, and the taxpayers keep paying!
scooby258_2000
Champion Author Indiana

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Message Posted: Apr 30, 2014 7:08:51 PM

so!!! if the government owns the old GM, sue the government for faulty ignition switches and all of the other problems since before 2009 with old GM, afterall, they think they took a loss buy bailing out gm, wait till they start having to pay for lawsuits across the entire country... also, since new gm is no longer liable, unless these investigations, which by the way already seem to have proven themselves out, prove they are liable, should split the costs with the government on repairs... old gm government owned, new gm, false informing their responsibilities of bad gm parts that should have been replaced years ago... so america... let's sue the governement, see how long the investigations take then... lmao
coughlin
Champion Author San Jose

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Message Posted: Apr 30, 2014 7:08:48 PM

Lotta money.
Tacodan
Champion Author Cincinnati

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Message Posted: Apr 30, 2014 6:33:25 PM

And this is what you get !
Tacodan
Champion Author Cincinnati

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Message Posted: Apr 30, 2014 6:33:06 PM

Buy American
Tacodan
Champion Author Cincinnati

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Message Posted: Apr 30, 2014 6:32:57 PM

Buy American
Tacodan
Champion Author Cincinnati

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Message Posted: Apr 30, 2014 6:32:49 PM

Buy American
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