The Treasury Department sold its final shares of the Detroit auto giant on Monday, recovering $39 billion of the $49.5 billion it spent to save the dying automaker at the height of the financial crisis five years ago.
Without the bailout, the country would have lost more than a million jobs, and the economy could have slipped from recession into a depression, Treasury Secretary Jacob Lew said on a conference call with reporters.
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4 comments:
So we waited 5 years to go into a depression , that's smart government work.
Who's Obama going to blame for this.
"Could have"??? How about "Did"? We ARE in a DEPRESSION!.
Admit, admit, admit!
The government should have stayed out of ALL bailouts.
Our 'leaders' just walked away from a 10 BILLION dollar loss and thought it was a good deal? Because it "could have been worse"?? If 'we, the people' don't pay a $200 tax bill, the IRS (with the blessing of our "leaders") will freeze our bank accounts and garnish wages. But some already wealthy car exec's get almost fifty billion, pay only 39 billion back and our "representatives" are high fiving each other? And the wealthy exec's?? Even wealthier now. Keep cheering, you dummies.
Thank you, Imclain.
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