Auto bailout saved 1.5 million U.S. jobs: study
The federal bailout of General Motors Co , Chrysler and parts suppliers in 2009 saved 1.5 million U.S. jobs and preserved $105.3 billion in personal and social insurance tax collections, according to a study released on Monday. The Bush and Obama administrations loaned the auto industry, including GM and Chrysler, which is now controlled by Italy's Fiat, $80 billion to avoid the collapse of the ...
Treasury closes books on GM bailout with final stock sale
Treasury's sale of a final block of shares leaves taxpayers in a $11 billion hole on 2009 bailout of GM.
Treasury closes the book on GM bailout with final stock sale
The Treasury Department has sold its final stake in General Motors, closing the book on its 2009 bailout of the auto industry. GM has been revived and is now profitable, but taxpayers are out more than $10 billion dollars.
Exclusive: Euro zone bailout fund should be allowed to help close failing banks - document
The euro zone's bailout fund should be allowed to lend to help finance the closure of banks in the bloc, a proposal prepared for euro zone finance ministers showed on Monday. European countries are seeking to reach a deal before the end of the year on how to close failing lenders, as part of an ambitious plan to create a banking framework and fix broken banks, whose problems have festered since ...
Report says GM bailout saved 1.2 million jobs
DETROIT, Dec. 9 (UPI) -- The Center for Automotive Research said Monday the bailout of U.S. automaker General Motors saved an estimated 1.2 million jobs.
Government sells remaining stake in GM
DETROIT (AP) — The U.S. government ended up losing $10.5 billion on the General Motors bailout, but it says the alternative would have been far worse.
65% Balk At Insurer Bailout For Health Law
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GM Bailout Ends as U.S. Sells Last of ‘Government Motors’
General Motors Co. (GM) , almost five years after first receiving government aid, is free from U.S. taxpayer ownership after the Treasury Department sold off its remaining stake in the nation’s largest automaker.
U.S. exits GM stake, taxpayers lose $10.5 billion
DETROIT — The U.S. government ended up losing $10.5 billion on the General Motors bailout, but it says the alternative would have been far worse. The Treasury Department sold its final shares of the Detroit auto giant Monday, recovering $39 billion of the $49.
EDITORIAL: Auto bailout all but forgotten as sales surge
When President Obama orchestrated the multibillion-dollar bailout of the U.S. auto industry in 2009 — GM and Chrysler were headed into bankruptcy, Ford was struggling — his many critics derided it as either a nefarious socialist plot or an attempt to buy the votes of autoworkers about to lose their jobs.