Mr. Webner, long time, no talk! It’s the federal government calling to update you on your GM investment.
For the love of God! Leave me alone! We got rid of our land line so you wouldn’t bother us any more. How did you get this number?
Don’t be naive, Mr. Webner. We’re the federal government. Now let’s talk about that GM investment. We liquidated the last of our GM investment in December, and incurred only a $10 billion loss on our $49.5 billion investment!. Isn’t that wonderful?
Wait a second . . . did you say a $10 billion loss? You’re happy that the government lost more than 20 percent of our investment in GM?
That’s right. GM stock has gone in the dumper over the last few months. By wisely selling when we did, we’ve managed to keep our losses to only $10 billion. If we’d held on and tried to sell now, we’d have a much bigger loss!
Isn’t the drop in GM’s stock due to some extent to its problems with faulty vehicles due to a faulty ignition switch? Were you guys aware of that problem when you decided to invest our money in GM stock and then to sell it when you did?
You know, there was a Senate hearing today on that issue. More than 2.5 million GM cars worldwide have been recalled, and Senators suggested that GM’s failure to act more promptly raised issues of criminality. Say, do you think you guys might be in trouble because you were aware of that whole issue?
You know, the whole recall situation makes your decision to sell GM stock seem really convenient. As long as we’re on the phone, maybe you can answer this question — what did the government know, and when did it know it? Was there some insider trading here? Maybe you should get a lawyer.