U.S. Treasury Department Won’t Sell GM its Shares Back Until the Price is Right

During the 2009 bailout, the U.S. Treasury Department invested more than US$50 billion in General Motors through Troubled Asset Relief Program. It currently owns a 26.5 percent stake in the company, a fact that has led bailout and government opponents deriding GM as “Government Motors”.

Now that the company is up and running for good (sans its European operations) reclaiming the number one spot from Toyota in 2011 and is posting profits, it wants to buy back its shares.

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