Media Matters tweets:
So, I clicked on the link, which was to a Media Matters piece on GM’s titled, “Don’t tell right-wing media mob, but gov’t bailout of GM an unqualified success.”
Really? Here’s an excerpt from the WSJ article Media Matters is linking to:
With Wednesday’s sale, including the overallotment, the Treasury lost roughly $4.5 billion on GM shares it acquired at an effective cost of $43.84 apiece. The Treasury would need to reap $26.4 billion, or an average of $52.79 a share, on its remaining stake to break even.
This is the new normal, I guess — where only losing $4.5 billion is considered a “success.”