Government Motors Goes Back to Well

News New Mexico Note - We recall the idea of allowing individuals to make private investments in their Social Security accounts being shot down as a terrible idea. The same naysayers were all for using taxpayer dollars to prop up GM.......curious. From Bloomberg -- General Motors Co., which went bankrupt last year after almost a century on the New York Stock Exchange, returns to public trading today following an initial public offering that raised more than $20 billion. GM’s owners, including the U.S. Treasury, sold $15.8 billion of common shares at $33 each yesterday in the second- largest U.S. IPO on record, according to a statement. The company’s offering of $4.35 billion of preferred shares and an overallotment option may boost the total to $23.1 billion, more than the $22.1 billion raised by Beijing-based Agricultural Bank of China Ltd. in the biggest IPO of common stock in history. Read here:

Government Motors Goes Back to Well