Tagged: U.S. Treasury

In a statement early this morning, the Treasury Department says it's going to "exit" its investment in General Motors. The federal government holds just over 500 million shares of GM stock.

The automaker will buy 200 million of those shares, and the government will dispose of the rest "in an orderly fashion" over the next year and a half, depending on market conditions.

Ask the average person — even in Washington — who serves as President Obama's chief of staff and you'll probably get a blank stare.

Jack Lew hasn't been heard or seen in the "fiscal cliff" drama unfolding between the White House and Congress. But the former budget director, who took over the top White House job last January, has become a key player behind the scenes.

In the category of unintended consequences, Susan Rice's announcement about her future could — under one scenario — mean a Republican in President Obama's inner circle, decorated Vietnam veterans overseeing the nation's military and its foreign policy, and another special election for Senate in Massachusetts.