Now if General Motors is such a wondrous success story of the Obama years (along with killing bin Laden), why are they resisting the plea of for them to divest? “GM is alive and bin Laden is dead” was the mantra of the Democrat convention, so wouldn’t it make sense to capitalize now and rake in the cash for the taxpayers?
The Treasury Department is resisting General Motors’ push for the government to sell off its stake in the auto maker, The Wall Street Journal reports. Following a $50 billion bailout in 2009, the U.S. taxpayers now own almost 27% of the company. But the newspaper said GM executives are now chafing at that, saying it hurts the company’s reputation and its ability to attract top talent due to pay restrictions.
See how wonderful government control of industry is?
But officials at the Treasury Department were not interested as selling now would lead to a multibillion dollar loss for the government, the newspaper noted.
How could such a successful Obama enterprise lead to a multibillion dollar loss?
By the way, have you also noticed the bragging about killing bin Laden has ceased since the latest temper tantrum by the Islamists?