Our cash - his clunker...
The government said it planned to sell its remaining 31.1 million shares in the Detroit auto maker by year-end, the final step in winding down the 61% stake it took with taxpayer money at the height of the global financial crisis.
In the final tally, the deal will have cost taxpayers about $10.4 billion, based on the company's current $38.12 share price.
The intervention changed the relationship between government and American business, upended bankruptcy protections for bondholders and gave labor a significant stake in the company.
The government won't fully recover its aid to the auto industry. Five years after Congress created the $700 billion Troubled Asset Relief Program as a sort of financial crisis fire extinguisher, Treasury is still trying to exit some of its thornier investments.
In total, the government has received $431.4 billion on the $421.6 billion it invested in banks and auto companies, a figure that includes interest payments. The Treasury sold its $12.4 billion stake in Chrysler in 2011, with a $1 billion loss.
http://online.wsj.com/news/articles/SB10001424052702303653004579211753302703562