Obama lost $10B in GM stock sale: It’s OK, he’s black

Since Obama bailed out GM, the Dow has almost doubled, recently cresting 16,000. But according to this report, the American taxpayer has sold GM stock at a $10 billion LOSS.

DETROIT • The U.S. government expects to sell its remaining General Motors stock by the end of the year. The Treasury Department says in a statement Thursday that it still owns 31.1 million shares of the auto giant. It has recovered $38.4 billion of the $49.5 billion it spent bailing out the company. At Wednesday’s closing price of $37.69, the treasury would get an additional $1.2 billion. That means taxpayers will lose roughly $10 billion on the bailout. The government says the bailout was needed five years ago to save the American auto industry and more than a million jobs.

So instead of making our $50 billion and turning it into $100 million as the “private sector” has done, Obama has LOST 20 percent of our money. Now that’s quite an investment strategy, and one that politicians of Obama’s caliber do not use. Take Nancy Pelosi, for example.

According to the NY Daily News:

take our poll - story continues below

Did Trump Go Too Far With His "Democrats Don't Like It Here, They Can Leave" Quote?

  • Did Trump Go Too Far With His "Democrats Don't Like It Here, They Can Leave" Quote?  

  • This field is for validation purposes and should be left unchanged.
Completing this poll grants you access to The Black Sphere updates free of charge. You may opt out at anytime. You also agree to this site's Privacy Policy and Terms of Use.

Trending: Beauty Queen Stripped of Crown Over Conservative Tweets

House Minority Leader Nancy Pelosi’s net worth skyrocketed 62% last year, to a jaw-dropping $35.2 million, according to financial disclosure forms released Wednesday.

Pelosi’s drastic growth, from an initial $21.7 million in 2009, is attributed to recent stock gains and smart investments.

In 2008, Pelosi’s net worth was around 12.1 million. Imagine if we had put our $50 billion where Pelosi put hers! Pelosi did better than the Dow, and tripled her booty. That would put the taxpayers’ take to $150 billion–a profit of $100 billion–and that’s a lot of cheddar.

Instead, our investment guy, Barack Obama left us with a $10 billion loss. It’s easy to lose when you are not playing with your own money.




Join the conversation!

We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please hover over that comment, click the ∨ icon, and mark it as spam. Thank you for partnering with us to maintain fruitful conversation.