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News Link • Bailouts

Why You Do Not Want to Invest in the 'New' General Motors

• Seeking Alpha
It wasn’t that long ago that General Motors underwent a US government-bankrolled bankruptcy that all but wiped out its existing shareholders. Now, thirteen months later, General Motors is filing for an initial public offering (IPO). The US and Canadian governments own over 70% of the company. And North American taxpayers have invested about $60 billion in it since December 2008. Obviously, the larger continent has very good reason to wish GM the best going forward. And Wall Street has already begun pushing the IPO hard.

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