“The Obama administration said Wednesday it will sell 40 percent of its remaining stake in General Motors Co. back to the automaker and announced plans to completely exit by March 2014. The exit timetable signals the end of one of the most extraordinary government interventions in the U.S. economy in history — the rescue and partial nationalization of two U.S. automakers and their finance arms supported by two U.S. presidents. Taxpayers will almost certainly lose billions of dollars in the $49.5 billion GM bailout. If the government sold the rest of its stock at current prices, taxpayers would lose more than $13 billion.”
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