As the bailout concludes, the Treasury Department’s accounting of auto bailout loans shows taxpayers only recovered $70.42 billion of the $79.69 billion loaned through AIFP, a loss of $9.6 billion, or about $65.75 per taxpayer.
As the bailout concludes, the Treasury Department’s accounting of auto bailout loans shows taxpayers only recovered $70.42 billion of the $79.69 billion loaned through AIFP, a loss of $9.6 billion, or about $65.75 per taxpayer.
So who cares about a 14% loss – obviously not GM, or the US government.
What the heck. It’s only “our” money. )-:
This must not take into account the tax loss credits that usually do not accompany a company after bankruptcy. I remember this amount to be close to $50 billion alone.
So, the taxpayers lost about 10x the cost of a better ignition switch? At least the government bailed out before the recalls began.
The real losers are the consumers, by bailing out G(overnment (M)otors, they had no change of culture that Fiat/Chrysler went through. Because of this GM continues to produce crappy vehicles that experience massive recalls and produce models that nobody wants. I would not buy a currebnt model GM product.
At least the Americans got back 88 cents on the dollar. I recall seeing numbers for Canada that were much worse.