The U.S. government posted a deeper loss than initially recorded on the General Motors bailout, according to a government report released today.
Taxpayers lost $11.2 billion on the GM bailout, up from $10.3 billion the Treasury Department estimated when it sold its last GM shares on Dec. 9.
A Treasury Department auditor said the government had written off an $826-million “administrative claim” tied to the GM bailout on March 20.
Saturday, May 3, 2014
Taxpayer losses on GM revised upwards...
lost almost a billion more than previously reported.