Ed Butowsky, Managing Partner of Chapwood Investments Management, joins Fox News to discuss GM’s taxpayer pay back. GM posted its best quarterly profits in 6 years in the amount of $1.3 Billion. As the headlines show GM paying back its bailout money can we call this government bailout a success? Ed Butowsky explains that the US Government and taxpayers own 60% of GM. Given the amount of money used to bail them out, GM has only paid back 13% of the money borrowed. The public needs to read beyond the headlines before we can call this a success. The market perception has changed over the last couple of quarters. GM has managed to raise $2.8 billion in cash in this quarter alone, but what does this mean to investors when GM starts selling stock again to the public?
Tags: bailout, gm, money, stock, taxpayer, us government