Category: General News
Taxpayers Lose On Bailout
WASHINGTON (AP) — A government watchdog says U.S. taxpayers stand to lose $27 billion from the 2008 financial bailout, up from an estimate of $22 billion in the fall. Ally Financial, the former financial arm for General Motors, still owes $14.6 billion of the $17.2 billion in aid it received. The report from the special inspector general for the Troubled Asset Relief Program says taxpayers can expect to lose $5.5 billion on the Ally investment.