Obama Praises GM Comeback

Bailouts

Updated Apr. 24, 2017 5:14PM EDT / Published Nov. 18, 2010 11:32AM EST

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.

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Obama Praises GM Comeback