New GM? Not bankrupt, but a taxpayer loser

"New GM" may not be broke, but don't expect to get back taxpayer bailout money "we" invested in it.

A government watchdog says the U.S. Treasury would have to sell its General Motors stock for $133.78 each to get back the nearly $50 billion it spent bailing out the Detroit automaker.

Here's more.

Special Inspector General for bailout funds Neil Barofsky said, in a letter written to Sen. Chuck Grassley Aug. 30, that the government gave GM $49.5 billion to stay in business. GM repaid $6.7 billion and the rest was converted to preferred shares and a 61 percent stake in the company. The government plans to start selling its GM shares in mid-November.

Let's be blunt. With allowance for inflation, "New GM" will Never get that high.