VodkaPundit

Congratulations on Your Loss

US taxpayers will no longer be involuntary owners of GM shares by the end of the year:

The Treasury Department on Thursday 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 U.S. so far has recouped $38.4 billion of the $50 billion initially invested and the coming sales would raise another $1.2 billion at the current share price.

Such a deal.