We Just Got $11.7 Billion Richer (GM)

The U.S. Treasury Department reported that it received $11.7 billion today from the sale of General Motors GM IPO last week. The proceeds of the sale were delivered today. The Treasury sold 358.5 million shares in the process. The Treasury could also receive another $1.8 billion if the underwriter exercise options to purchase more share of the automaker. At last check, shares of GM were off 85 cents to $33.23, a loss of 2.5%.