WASHINGTON, DC (WKZO) -- The U.S. Treasury is selling off the final shares of stock in General Motors. The sale of over 101-million shares began Thursday.
The U.S. government and taxpayers received over 912-million shares of the automaker in exchange for a 49.5-billion dollar bailout in 2008. The remaining shares of the automaker have an estimated value of 3.7-billion dollars.
The Treasury has picked up the sale of GM stock since the first of the year and currently owns just seven-percent of the company that was dubbed "Government Motors" after the bailout.