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GM, AIG shares slides to add $23 billion to deficit (http://news.yahoo.com/gm-aig-shares-slides-add-23-billion-deficit-235119339.html - broken link)
The non-partisan CBO, as part of its annual budget outlook, said that the Troubled Asset Relief Program, or TARP, will reverse $37 billion in gains in fiscal year 2011, and instead post a net cost of $23 billion this year.
The net $61 billion swing is due to declines in the value of shares the U.S. Treasury owns in General Motors Co and American International Group.
... GM, despite a major comeback that has returned its crown as the world's top-selling automaker, has seen its share price slide from $37 a year ago to $24.02 on Tuesday - significantly below the $33 IPO price and far below the approximately $53 price needed for taxpayers to break even.
No problem when you are gambling with money that is not your own.
how do you push the Chevy volt when there will be no power plants to plug them into. the idiot forgot that part when he promised to put coal out of business. solar panels ain't doing so well either unless you are a bankruptcy lawyer
Oh dear. Will obama continue to flit around the country telling us what a great success his takeover of GM was?
The morons who support that goon aren't smart enough to understand this article or basic math anyway so why wouldn't he keep using the same lie over and over again? His supporters are borderline mentally handicapped when it comes to economics, they'll believe anything the food stamp king has to say.
You are correct. These simpletons read that GM paid back their share and that is that. They don't realize they paid it back with other borrowed money just like the banks and we are still holding onto piles of stock.
Oh dear. Will obama continue to flit around the country telling us what a great success his takeover of GM was?
It will make a good campaign ad against him.
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