Bailouts

Obama Praises GM Comeback

GM is a public company again after a $23.1 billion IPO on Thursday—and President Obama wants credit where credit’s due. "There were plenty of doubters and naysayers who said it couldn't be done," Obama said, before crediting the $50 billion federal bailout of GM for the company’s comeback. “Our automakers are in the midst of their strongest period of job growth in a decade,” he said. The government hopes to be completely disentangled from GM by the end of 2012.