Selling GM

Another chapter in the economic bailout that started in 2008 has closed. The Treasury Department says it will sell the last of the government's General Motors stock. That's 31 million shares. At current prices, the government will bring in $10 billion less than its original investment of $50 billion. At the height of the financial crisis, the government took a nearly two thirds stake in GM. The deal benefited unions by giving them a stake in the company. But it sidestepped bankruptcy protections for GM bond holders.