USA TODAY: … In its August report to Congress, the Treasury Department said it had recovered about $35.4 billion of its $49.5 billion GM bailout.
Although GM’s stock, which rose 49 cents Tuesday to close at $36.71, is enjoying a strong year, the government is still likely to lose about $10 billion on the GM bailout. The final figure will depend on the performance of GM shares over the next several months.
Despite the loss, President Obama has described the bailout as a success, saying it was critical to preserve the U.S. auto industry and to prevent the broader economy from collapsing… (more)
