Sep 19 2013, 1:30pm CDT | by Shane McGlaun
The United States treasury has recently sold another block of stock shares it owns in General Motors. This is part of the stock that the federal government purchased when it bailed GM out during the financial crisis a few years ago. With the latest selloff of GM stock, the government has reduced its stake in the company to 7.3%.
The U.S. Treasury sold more than 110 million shares between may six and September 13. The selloff of stock raised over $3.82 billion. After the selloff, the federal government owns 101 million shares of stock.
The US government took a 60.8% stake in GM for $49.5 billion when the government bailed out the company in 2009. The government has recovered about $35.4 billion the investment so far.
Shane is a self described car aficionado. He loves muscle cars, but also knows how green cars work. He has years of experience in testing cars and writes about cars with deeply felt emotions.
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