US Sells Last Shares In GM, Exits Historic Rescue
December 9, 2013

Via AFP:

The US Treasury sold its last shares in General Motors on Monday, ending the dramatic rescue of the auto giant at the height of the financial crisis five years ago.

The Treasury took a loss of more that $10 billion on the $49.5 billion bailout, but said that saving the US auto industry, the jobs of millions of auto workers and the pensions of many retirees was worth it.

The 2008 rescue, highly controversial at the time, "helped stabilize the auto industry, and prevent another Great Depression," Treasury Secretary Jacob Lew said.

He said that President Barack Obama "understood that in...

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