BUSINESS
01/26/2011 05:12 am ET Updated May 25, 2011

ON GM IPO, U.S. Cut Wall Street's Windfall -- But Taxpayers Haven't Broken Even Yet

Nov. 26 (Bloomberg) -- Want to underwrite one of the largest initial public offerings in history? Chop your usual fee by three-fourths and commit to limiting Wall Street's windfall...

Taxpayers, however, haven't broken even on GM. The government needed to sell its entire stake for about $44 a share for that to happen. The U.S. would need to sell its remaining 37 percent ownership of GM at $53 a share for taxpayers to be made whole.

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