To date my worse financial loss was being wiped out of my GM notes…Comrade Obama decided to by-pass US law and tell me and all the 1%ers that as GM creditors we are too rich and to go fuck our hands. Somehow the Liberals of this country pat this ass clown on the back for “saving” the auto industry…FUCK YOU!! Obama stole my cash and gave it to a bunch of fat assembly line workers…And at what cost??
Washington –The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That’s 15 percent higher than its previous forecast.
In a monthly report sent to Congress on Friday, the Obama administration boosted its forecast of expected losses by more than $3.3 billion to almost $25.1 billion, up from $21.7 billion in the last quarterly update.
The report may still underestimate the losses. The report covers predicted losses through May 31, when GM’s stock price was $22.20 a share.
On Monday, GM stock fell $0.07, or 0.3 percent, to $20.47. At that price, the government would lose another $850 million on its GM bailout.
The government still holds 500 million shares of GM stock and needs to sell them for about $53 each to recover its entire $49.5 billion bailout. At the current price, the Treasury would lose more than $16 billion on its GM bailout.
The steep decline in GM’s stock price has indefinitely delayed the Treasury’s sale of its remaining 26 percent stake in GM. No sale will take place before the November election.
Great war story V.King.
PWAV
Hey Jake I like your response better than mine…Douchenozzle really makes the point come alive…Well done.
Fucking amazing.
Yeah, totally fucking amazing.
the way gm goes,…..so goes the country. roflmao
I bet when you bought it you thought govt. money would prop it up and you would go home with that govt. money stuffed in your pockets.
You have no one to blame but yourself, dude. You made the decision to buy it, now deal with losing it. Risk is always involved. You’re delusional if you think “obama” is responsible for your loss. YOU are.
No Dummy…I bought a publicly traded companies bonds…I knew the risk…If they failed then they go thru bankruptcy. Here’s why you’re a dummy or a commie…As a creditor the judge would have them liquidate their assets…That money goes to…ready the creditors…That’s how it works in America…Now with 0Bama he says ..fuck bankruptcy…(because the unions would have to concede that fat assembly line workers are way over paid and are ruining the company) he gives them a bailout so the Unions can still remain over paid and tells us Bondholders…Hey go fuck your hand…I expect if I bought Venezuelan Oil company bonds to be treated this way…but not here
Douchenozzle, he probably bought it because he valued the debt as the ultimate “equity” in the deal.
No one with half a brain would ever compute “government theft” into their financial risk model.
Unless one lived in Soviet Union or Venezuela that is.
_________
Douchenozzle… Love it! lol