John Thune

United States Senator

Thune Calls For End To Government Ownership

June 11th 2009

KSFY Reports:

South Dakota Senator John Thune is leading a Republican charge, asking the Obama administration to set a deadline for the government to sell its ownership stakes in General Motors, Chrysler and Financial Institutions.

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Thune introduces ‘Government Ownership Exit Plan’

June 11th 2009

The Daily Republic Reports:

U.S. Sen. John Thune, R-S.D., today will introduce the Government Ownership Exit Plan Act, a bill that would require the federal government to end its ownership of private entities acquired under the financial-industry bailout, known as the Troubled Asset Relief Program (TARP), by July 1, 2010, according to a new release from his office.

The bill also prohibits the future acquisition of new or additional ownership interests in private firms through the use of TARP funds and prevents the federal government from making management decisions in private companies in which it has an ownership interest.

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Thune Proposes Deadline for Denationalization

June 11th 2009

The Heritage Foundation Reports:

With General Motors slated for nationalization, and the government holding major stakes in Chrysler and several major banks, many concerned observers have been asking when it will all end. President Obama, however, has not even ventured a guess. The omission is an odd, and dangerous, one: the president who campaigned on the need to set a deadline for U.S. withdrawal from Baghdad has failed to establish one for the withdrawal of U.S. forces from Detroit.

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Thune introduces measure to reverse trends towards the nationalization of companies

June 11th 2009

From the Dakota War College:

U.S. Senator John Thune today will introduce the Government Ownership Exit Plan Act, a bill that would require the federal government to end its ownership of private entities acquired under the Troubled Asset Relief Program (TARP) by July 1, 2010. The bill also prohibits the future acquisition of new or additional ownership interests in private firms through the use of TARP funds and prevents the federal government from making management decisions in private companies in which it has an ownership interest.

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GOP wants U.S. out of auto, bank business

June 11th 2009

Politico reports on Senator Thune's introduction of divestment legislation. Senator Thune is the chief sponsor of the legislation that will require the federal government to divest its shares in private companies by July 1, 2010:

As the federal government settles in as the new majority owner of major U.S. companies, Republicans are positioning themselves as activist shareholders.

While they may not be able to pull off a shareholder coup, Senate Republicans on Thursday will launch their most aggressive proxy battle to date against expanded federal control of corporations, introducing legislation that would force the Treasury Department to divest its ownership stakes in banks, financial institutions and auto companies by July 2010.

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John Thune

United States Senator

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