Taxpayers To Lose 61 Percent, $15 Billion, On GM Bailout, At Current Prices

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Posted by Milton Recht:

From "GM Bailout Will Cost Taxpayers Billions" by Investor's Business Daily:

...GM on Wednesday said it will buy back the 200 million share government stake for $5.5 billion, or $27.50 a share.

The break-even point on the government's total holdings was $53 a share. But now, with $20.9 billion in taxpayer funds left to pay off from 300 million shares, the break-even point has risen to $69.72 a share.

In other words, at current prices, taxpayers are sitting with a loss of 61%, or nearly $15 billion, on their investment.