U.S. Treasury expects complete exit from GM by year's end

The U.S. Treasury announced Thursday that it sold 70.2 million shares of General Motors common stock, to date recouping $38.4 billion of the $49.5 billion it pumped into the company in 2009 to save the U.S. auto industry. The Treasury still holds 31.1 million shares of General Motors common stock, which it plans to sell by the end of the year. The remaining shares should raise an estimated $1.2 billion, which means the Treasury will lose about $10 billion on its bailout investment. Deputy Assistant…