I see your posts, become annoyed and then immediately go to read a reasonable source on the matter. See, now this doesn't sound so crazy to me:
"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. "At that point, we will consider all of our options, based on our twin goals of protecting taxpayers' interests and exiting as soon as practicable."
...
The size and form of a summer share offering is under discussion at Treasury. A final decision hasn't been made by Treasury Secretary Timothy Geithner, who would need to sign off on a big sale. If GM shares dive, Treasury could decide to hold off longer. Unlike in the IPO, when the government, banks and GM worked closely together on the deal, the government has more leeway to decide how to proceed because GM has already gone public."
It could be years before the stocks are at the $53 a share that would make the government money (or break even). Do we keep the stocks and all the flack that comes with that choice or sell and get the govt out of it, even if there is a loss?
I'm not naive enough to miss the fact that they want to sell before 2012, but seriously, what's the better choice?
"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. "At that point, we will consider all of our options, based on our twin goals of protecting taxpayers' interests and exiting as soon as practicable."
...
The size and form of a summer share offering is under discussion at Treasury. A final decision hasn't been made by Treasury Secretary Timothy Geithner, who would need to sign off on a big sale. If GM shares dive, Treasury could decide to hold off longer. Unlike in the IPO, when the government, banks and GM worked closely together on the deal, the government has more leeway to decide how to proceed because GM has already gone public."
It could be years before the stocks are at the $53 a share that would make the government money (or break even). Do we keep the stocks and all the flack that comes with that choice or sell and get the govt out of it, even if there is a loss?
I'm not naive enough to miss the fact that they want to sell before 2012, but seriously, what's the better choice?
This message last edited by nossy on 20/04/2011 at 06:56:58 PM
Government rushing to dump GM stock - costing taxpayers $11B - 
- 20/04/2011 03:19:54 PM
637 Views
- 20/04/2011 03:19:54 PM
637 Views
But the Party had control of the capitalist running dogs industry! Comrade Obama,you fool! 
- 20/04/2011 05:36:26 PM
472 Views
- 20/04/2011 05:36:26 PM
472 Views
I Knew It! COMMIE!!!
- 20/04/2011 07:17:05 PM
437 Views
The whole thing was rather surreal.
- 24/04/2011 05:04:32 AM
556 Views
I don't know, it seemed a normal crisis response
- 24/04/2011 07:06:39 AM
472 Views
The intervention was understandable; the political sideshow was disgusting, if also understandable.
- 26/04/2011 01:42:18 AM
619 Views
One reason I'm thankful for you:
- 20/04/2011 06:55:55 PM
653 Views
You have to admit...
- 20/04/2011 07:26:55 PM
395 Views
What was the better choice? Not doing this stupid bailout scheme in the first place..... *NM*
- 21/04/2011 12:48:27 AM
172 Views
I'm not sure I agree with that, but that's neither here nor there. *NM*
- 21/04/2011 01:12:49 AM
165 Views
some of us said the same thing about iraq, but what are you gonna do about it now? *NM*
- 21/04/2011 01:44:45 AM
182 Views