Leave your feedback Share Copy URL https://www.pbs.org/newshour/nation/us-sells-last-of-its-stocks-in-general-motors Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter U.S. sells the last of its General Motors stocks Nation Dec 9, 2013 5:47 PM EDT Photo by Bill Pugliano/Getty Images The United States sold the last shares of its General Motors stocks, nearly five years after bailing out the Detroit automaker from near-liquidation to the tune of around $49.5 billion. The bailout program, which began under George W. Bush’s presidency and was continued by President Barack Obama, saw the U.S. government take an ownership stake in G.M. The government lost a reported $10.5 billion on the bailout. Despite the loss, The Center for Automotive Research released a new study that says bailing out General Motors and competitor Chrysler saved approximately 2.631 million jobs in 2009 and 1.519 million jobs in 2010 to avoid the loss of “$105 billion in lost taxes and other payments,” the Detroit-Free Press reports. We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now
Photo by Bill Pugliano/Getty Images The United States sold the last shares of its General Motors stocks, nearly five years after bailing out the Detroit automaker from near-liquidation to the tune of around $49.5 billion. The bailout program, which began under George W. Bush’s presidency and was continued by President Barack Obama, saw the U.S. government take an ownership stake in G.M. The government lost a reported $10.5 billion on the bailout. Despite the loss, The Center for Automotive Research released a new study that says bailing out General Motors and competitor Chrysler saved approximately 2.631 million jobs in 2009 and 1.519 million jobs in 2010 to avoid the loss of “$105 billion in lost taxes and other payments,” the Detroit-Free Press reports. We're not going anywhere. Stand up for truly independent, trusted news that you can count on! Donate now