Henry Payne for December 21, 2012

Unfortunately the American taxpayer is going to take it in the shorts once more. From the Wall Street Journal today:

“All told, the Treasury put $49.5 billion into GM. Once GM’s buyback is complete, the Treasury will have recovered to date about $28.6 billion.”

Too bad that program didn’t work out like the politically unpopular bank bailout. The government actually profited from that. They netted 20 Billion in profit on that one…

http://www.npr.org/2011/03/31/135002312/the-last-word-in-business

Sometimes it’s the cost of remaining a competitive country, and we’ll get much of the rest back in taxes paid by the CEOs and workers, who otherwise would have been drawing unemployment. After all, we made even LESS money off the investment in the interstates that we drive those cars on. I just feel a little sorry for conservative cartoonists who won’t be able to call it “Government Motors” any more.

Henry never disappoints. He is always a Pain in the ……………

It is again the largest auto company in the world, instead of broken up (further, remember Delco et al?) in bankruptcy.