U.S. Treasury in No Rush to Unload General Motors (GM) Shares, Good News for Holders - Cramer

General Motors (NYSE: GM) is up Wednesday, following Treasury Assistant Secretary Tim Massad speaking with Jim Cramer Tuesday night.

The U.S. Treasury just sold about $22 billion of AIG (NYSE: AIG) stock and Massad noted that over 90 percent of Troubled Asset Relief Program (TARP) investments have benn recovered. On AIG, the Treasury has realized about $15 billion in profit on a $182 billion investment, with the entity still holding 234 million AIG shares.

Massad commented that the Treasury wouldn't be rash on GM and "dump" shares onto existing stockholders. As of right now, the Treasury is still working with GM on timing and strategy of potential sales.

Currently, the U.S. has about a 26 percent stake on the venerable automaker.

Shares of GM are up over 1 percent in morning trade.

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