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U.S. to exit General Motors stake by end of 2013


The General Motors world headquarters is seen in downtown Detroit, Michigan in this May 31, 2009 file photo. REUTERS/Rebecca Cook
The General Motors world headquarters is seen in downtown Detroit, Michigan in this May 31, 2009 file photo. REUTERS/Rebecca Cook

DETROIT (WKZO) -- The federal government is planning to sell its remaining shares of General Motors by the end of this year.  However, the plan may leave taxpayers with a total shortfall of about ten-billion dollars on the automaker's 2009 bailout.

As of Thursday, the government claims to have regained 38.4-billion dollars of the 49.5-billion dollar investment.  At current prices, Treasury would recoup another 1.2-billion dollars from its remaining stake.  That would bring the total recovery to 39.6-billion.

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