May 27, 2016 5:11 PM

China’s CHEVY – ridin’ high on our bail-out and on our bucks – remember we bailed them out and then they ran off to China?

Here is another example of how the citizens of America are being hood-winked and sold down the river.

This is one of the reasons why Donald Trump is becoming more and more popular because no one else has the courage to address these issues loudly and clearly.

I will never again purchase a GM vehicle.  Think again before you decide what car to buy.  If you had any doubts about Trump saying how we are getting killed in our trade deals with foreign countries please watch this. All this with the help of Bill Clinton’s free trade agreement.

This is the man with our government’s help who gave America the shaft.

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Business | Wed Apr 30, 2014 5:41pm EDT

U.S. government says it lost $11.2 billion on GM bailout

WASHINGTON | By Eric Beech

Two cars of the ‘people mover’ public rail are seen covered with a advertisement for the 2014 Chevy Silverado pickup truck as they move past General Motors World Headquarters in Detroit, Michigan January 11, 2013.

Reuters/Rebecca Cook

The U.S. government lost $11.2 billion on its bailout of General Motors Co (GM.N), more than the $10.3 billion the Treasury Department estimated when it sold its remaining GM shares in December, according to a government report released on Wednesday.

The $11.2 billion loss includes a write-off in March of the government’s remaining $826 million investment in “old” GM, the quarterly report by a Treasury watchdog said.

The U.S. government spent about $50 billion to bail out GM. As a result of the company’s 2009 bankruptcy, the government’s investment was converted to a 61 percent equity stake in the Detroit-based automaker, plus preferred shares and a loan.

Treasury whittled down its GM stake through a series of stock sales starting in November 2010, with the remaining shares sold on December 9, 2013.

At the time of the December sale, Treasury put the total loss at $10.3 billion but said it did not expect any significant proceeds from its remaining $826 million investment in “old” GM, the report by the Office of the Special Inspector General for the Troubled Asset Relief Program said.

“The goal of Treasury’s investment in GM was never to make a profit, but to help save the American auto industry, and by any measure that effort was successful,” Treasury Department spokesman Adam Hodge said.

(By moving to China?)

The U.S. bailout of GM and Chrysler, which received about $12.5 billion, saved 1.5 million jobs in the United States, according to the Center for Automotive Research.

(Yes, they said they saved 1.5 million jobs in the U.S. by moving to China?)

Last week, GM posted its 17th consecutive profitable quarter. Earnings, however, were hurt by a $1.3 billion charge for the costs of various recalls, including for faulty ignition switches on 2.6 million cars.

GM is under investigation by the Justice Department, U.S. auto safety regulators and Congress over its failure to detect the faulty ignition switch for over a decade. The U.S. Securities and Exchange Commission is also investigating GM.

(What were the results?)

(Did anybody’s head roll for this fiasco?)

kommonsentsjane