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Treasury sells more GM stock, expects to sell the rest by year's end
Treasury sells more GM stock, expects to sell the rest by year's end

WASHINGTON — The Treasury Department said Thursday it has sold an additional 70.2-million shares of General Motors Co. stock acquired as part of the automaker's bailout and expects to unload the rest by the end of the year. The sale of the final 31.1-million shares would close the books on GM's $51-billion rescue. The Obama administration expects to post a $10-billion loss on the bailout, although officials have said they never expected to turn a profit and that saving the auto industry was crucial to the economic recovery.  The latest sale of GM stock took place over about two months and reduced the government's ownership stake to 2.2%. At its height after...

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