GM's IPO: Finally Taxpayers Get a Break
GM's IPO: Finally Taxpayers Get a Break -
General Motors has announced it will take its stock public as a move toward repaying its bailout package. About time, writes Daniel Ikenson: "A GM initial public offering is the right move, and cannot happen soon enough. Let's get the government out of the car business now. But successfully reprivatizing GM should not be seen as a sign that the intervention itself was successful. …[T]here is the real prospect that that the IPO won't raise anywhere near the amount of cash to make taxpayers whole, which could generate a lot of bad press before the election."
