The US Treasury has announced a $9.7 billion loss on the $49.5 billion it used to bailout General Motors in 2009, according to a report from the The Detroit News, which in turn cites the quarterly report from the Special Inspector General of the Troubled Asset Relief Program to Congress. The Treasury's original stake in GM saw it taking 912 million shares or 60.8 percent of the company in the bailout, numbers which have since fallen considerably. Since 2009, the Feds have sold off 811 million shares, and now own less than seven percent of the resurgent GM.
Autoblog , US Treasury reports $9.7B loss on GM shares, US Treasury reports $9.7B loss on GM shares
