The Treasury Department announced Monday the sale of its remaining shares in General Motors, closing the books on one of the most controversial government interventions of the financial crisis. The government will lose $10 billion on the deal, which kept the automaker from collapsing.HUFF PO:
JPMorgan Chase has suffered big, unexpected losses at a closely watched trading desk, providing fodder to supporters of a new financial regulation the bank's CEO has loudly opposed. The biggest U.S. bank by assets said on Thursday that it had lost $2 billion on bad bets on credit derivatives, made by a London trading desk, run by a man other traders have alternately dubbed "The London Whale" and "Voldemort." The office is intended to hedge the giant bank's credit risk, not increase it.IF OBAMA WAS A BANKER, THEN HE'D BE IN JAIL.
BUT HE'S ONLY POTUS.
AND HE LOST TAXPAYER MONEY - AND LOST IT BY ILLEGALLY CIRCUMVENTING ESTABLISHED BANKRUPTCY LAW.
JAIL IS TOO GOOD FOR THE LIKES OF OBAMA.
BTW: GM MAKES MOST OF ITS CARS OVERSEAS, EMPLOYS MOST OF ITS PEOPLE OVERSEAS, AND SELLS MOST OF ITS CARS OVERSEAS, SPECIFICALLY IN CHINA.