If the government could investigate itself for insider trading, the timing of a recent stock sale might have triggered a few alerts.
In December, the Treasury Dept. sold the last of its shares in General Motors (GM), wrapping up the controversial bailout that began when GM declared bankruptcy in 2009. Taxpayers ultimately lost about $10 billion on GM, and some critics argued the Treasury could have recouped more of its investment if it held on to its GM shares longer and waited for the price to rise.
But now the timing of the sale looks superb, especially since a mushrooming safety controversy — which the government knew about for years but the public didn’t — has been pushing down the value of GM shares