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Dueling Headlines, ‘taxpayers will recover more than they invested in GM bailout’ edition

By Doug Powers  •  June 5, 2013 02:46 PM

**Written by Doug Powers

The first of our competing headlines today comes from November of 2010:


If you can’t read the text in the story, it says “‘American taxpayers are now positioned to recover more than my administration invested in GM, and that’s a good thing,’ Obama said.”

The dueling headline is from this morning’s Drudge Report:


The link went to this story at the Detroit News:

The Treasury sold nearly 20 percent of its remaining shares in General Motors Co. in the first three months of the year, the Detroit automaker disclosed Thursday.

The Treasury, which initially held 60.8 percent of GM as part of the U.S. $49.5 billion bailout, now owns just 16.4 percent, or 241.7 million shares. In December, the Treasury sold GM 200 million shares of its stake for $5.5 billion to reduce its stake to 300 million shares.

In total, Treasury has recouped $30.6 billion. At current trading prices, Treasury would lose around $10 billion on its GM bailout.

Your definition of what a “policy success” is will mostly depend on whether you were on the paying end with no potential upside, or on the receiving end with no potential downside.

Bonus fright points: Obama has stated that he wants to repeat that kind of “success” in every other American manufacturing industry.

Dueling Headlines archive here.

**Written by Doug Powers

Twitter @ThePowersThatBe

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Heh: Obama to flex his job creation muscle at auto plant — just one problem (make that two problems)

January 5, 2015 08:10 PM by Doug Powers


Another episode of “Behind the Optics”

Still fighting: The Delphi workers Obama robbed

July 25, 2014 06:55 AM by Michelle Malkin

Bang for taxpayers’ bailout buck: GM has recalled more cars this year than they sold in last five

May 20, 2014 12:52 PM by Doug Powers


“Success story”?

Following up on Joe Biden’s promise that Fisker Auto would be a multibillion dollar return on investment for taxpayers

November 26, 2013 01:16 PM by Doug Powers


Not serious

Categories: Automakers, Delphi

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