GM Bailout Cost Taxpayers $11.2 Billion

Newswire

WASHINGTON, April 30 (Reuters) - The U.S. government lost $11.2 billion on its bailout of General Motors Co, more than the $10.3 billion the Treasury Department estimated when it sold its remaining GM shares in December, according to a government report released on Wednesday. The $11.2 billion loss includes a write-off in March of the government's remaining $826 million investment in "old" GM, the quarterly report by a Treasury watchdog said. The U.S. government spent about $50 ...

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