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Taxpayers Own 60.8% of New GM

July 12, 2009
JB Williams

When’s our first Shareholder Meeting?

The biggest bankruptcy in US history was also the fastest bankruptcy in US history. Isn’t it amazing how fast the government can move when they are motivated by a historic confiscation of private sector power and wealth?

As of this morning, American taxpayers are now the majority shareholder in the newly created Government Motors, which will build the Chevrolet, Cadillac, GMC and Buick brands looking forward.

American taxpayers paid over $50 billion for 60.8% of GM. That money was used to save 66,000 American jobs. That comes to $757,575.76 per job saved. A little pricy if you ask me, but we are talking about union jobs here.

The story continues …..

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