Money to Burn: $9.7 Billion Loss on GM Bailout
October 30, 2013
Remember how the auto bailout was going to save Detroit (it didn’t) and keep American auto companies out of bankruptcy (it didn’t)? Another one of President Obama’s promises was that taxpayers would see full repayment of the bailout loan, about $60 Billion. Today the US Treasury reported a $9.7 Billion loss on the sale of the GM stock portion of the bailout. Details here.