Obama to lock in the taxpayers GM loss

[droski]

I wish I could buy off the president. must be nice.

U.S. Weighs Summer GM Stock Sale - WSJ.com

A sale within the next several months would almost certainly mean U.S. taxpayers will take a loss on their $50 billion rescue of the Detroit auto maker in 2009.

To break even, the U.S. Treasury would need to sell its remaining stake—about 500 million shares—at $53 apiece. GM closed off 27 cents a share at $29.97 in 4 p.m. trading Monday on the New York Stock Exchange, hitting a new low since its $33-a-share November initial public offering.

 

[utgibbs]

As I said he would long ago. This was only ever a back-handed bailout for the investor class courtesy of the taxpayer (as I said it was long, long ago).

And yet, we can't have universal health care.

:hi:

 

[droski]

and it still remains to be one of the most stupid things you've ever said on this board. no amount of talk about phantom bailouts of the investors will ignore the reality of the bondholders geting 20% rather than their deserved 100%.

 

[utgibbs]

and it still remains to be one of the most stupid things you've ever said on this board. no amount of talk about phantom bailouts of the investors will ignore the reality of the bondholders geting 20% rather than their deserved 100%.

:no:

 

[droski]

the irony of you lauding the biggest screwjob to the investor class in american history as some sort of investor bailout is off the charts.

 

[iuvol2012]

and it still remains to be one of the most stupid things you've ever said on this board.

You must not see what he writes in the football forum then.

 

[crazyguy]

I'm with droski here

 

[volinbham]

For those of you in the investor class, will this announcement put further downward pressure on the stock price? It seems that a major stakeholder saying they will bail and knowingly take a big loss would be a signal to the market.

On the other hand, it does remove the government from the management so perhaps that balances it out.

 

[droski]

stock went up after the announcement, but it was already at an after IPO all time low and the market was up a lot as well.

 

[myrobbins7]

I didn't buy into this when they came public (thanks Droski) but I might be smelling a good short here..hrmmmm.

 

[volinbham]

stock went up after the announcement, but it was already at an after IPO all time low and the market was up a lot as well.

do you think there was a signaling effect?

in general, would this type of move be liked or disliked by the market.

 

[VolsNSkinsFan]

hasnt been added to the S&P500 yet. That will absorb selling pressure

 

[droski]

do you think there was a signaling effect?

in general, would this type of move be liked or disliked by the market.

i'd imagine it'd be a net positive long term, but people will short the stock into the offering.

 

[BigPapaVol]

the irony of you lauding the biggest screwjob to the investor class in american history as some sort of investor bailout is off the charts.

Unbelievably idiotic.
Posted via VolNation Mobile

 

[therealUT]

Unbelievably idiotic.
Posted via VolNation Mobile

On the contrary, I think his idiocy is both believable and expected.