Saturday, July 23, 2011

U.S. lost $14B on auto bailout

Logo of General Motors Corporation. Source: 20...Image via WikipediaIncluding the $1.3 billion loss on its Chrysler investment, announced Thursday, the United States government has lost about $14 billion on the auto industry bail-out. GM is now mostly owned by the U.S. Treasury. Chrysler is mostly owned by the United Auto Workers union and Italian automaker Fiat SpA, which controls the Auburn Hills, Mich., automaker. Read more...

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