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    Report: Washington ups GM bailout loss estimate to $11.2B
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    Apparently, the cost of the US Treasury's bailout of General Motors is still being calculated. A new report from the Special Inspector General for the Troubled Asset Relief Program, which oversees the TARP initiative, found that the US government has lost more money on its investment than ...

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    Report: US Treasury reports $9.7B loss on GM shares
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    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 ...

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    Report: Treasury needs GM stock to be worth $95.51 to break even
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    Special Inspector General Christy Romero has delivered another report to Congress on the state of the Troubled Asset Relief Program (TARP) up to June 6 of this year, assessing numbers to the US Treasury's remaining stake in General Motors. After stock sales in February and another a few months ...

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    Report: Treasury to begin selling off more GM stock
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    Reuters reports that earlier this week the US Treasury announced the sale of another tranche of General Motors stock. It didn't say how many of the 241.7 million shares it holds in the automaker it would sell, nor exactly when – the discretion apparently intended to keep hedge funds from ...

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    Report: US Treasury denies pay hikes for GM, Ally execs
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    In December, the US Treasury granted General Motors the rights for the company to once again buy corporate jets and for its executives to fly on them, but neither those execs nor the ones at Ally Financial will get any raises this year. The automaker, worried that top talent might leave for ...

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    Report: Treasury sold off $489M of GM stock in February
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    The Detroit News reports that the US Treasury sold off around 17.2 million shares of General Motors stock in February worth $489 million. The move is part of a plan to rid the government of GM stock by March, 2014. All told, the government has regained $29.8 billion of the $49.5 billion it ...

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    Report: Treasury says auto bailout tally drops to $20.3 billion
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    In December, the US Treasury announced that it was going to sell all of its shares in General Motors within 12 to 15 months. The first tranche of the 500-million total shares was purchased by GM, which took 200 million of them at $27.50 per share. That price represents an eight-percent premium ...

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    Report: Former CEO Whitacre urges Treasury to sell stake in General Motors
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    Former General Motors chairman and CEO Ed Whitacre is in the papers today, specifically the Opinion section of The Wall Street Journal, espousing a strong belief that the U.S. Treasury should get out of GM's hair as quickly as possible. Whitacre's sentiments come, no doubt, as a response to the ...

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    Report: WSJ: Feds turned down GM request to sell its remaining shares [w/video]
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    The Wall Street Journal released a report today, which indicated that the U.S. Treasury Department is unwilling to sell off its stake in General Motors, because to do so now would lead to a very large loss on the investment for the government. GM proposed the buyback plan to the Treasury ...

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    Opinion: Horsepower Politics
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    The Role Autos Are Playing In Deciding Our Next President He was elected to the U.S. Senate in 1942 and served a dozen years during which his most memorable act was introducing the bill that added the words, "under God" into the Pledge of Allegiance. But to both his friends and foes alike, Homer ...

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    Report: Watchdog says White House needs exit strategy for GM, Ally
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    Christy Romero, a special inspector general examining the corporate bailouts that came in the wake of 2008's financial crisis, has some advice for the U.S. government: "Treasury should develop a concrete exit plan for GM and Ally." She is referring, of course, to the 30-percent stake that the ...

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    Report: Romney vows to dump federal stake in GM quickly
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    With a multi-volume list of issues that a presidential hopeful could discuss, we aren't sure why Mitt Romney keeps circling back to the auto industry bailouts, but here we are again. He's lately swinging his stick at the U.S. Treasury Department for not having sold its 26.5-percent stake in ...

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    Report: Treasury suggests GM buy back troubled Ally Financial
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    Back when Ally Financial was known as GMAC Financial, the U.S. Treasury gave it $17.2 billion in TARP funds to weather the global economic crisis. GMAC is now Ally Financial, and although it has repaid $5.4 billion of what it was loaned, there doesn't seem to be a clear path for repaying the ...

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    Report: Bush says he'd pull the trigger on auto bailouts again
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    President George W. Bush recently spoke to a gathering of auto dealers in Las Vegas, saying that while he believes in the free market under normal conditions, he doesn't regret the $700 billion bailout fund used to rescue General Motors and Chrysler from the brink of collapse. Bush was quoted as ...

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    Report: Fund oversight panel says jury still out on auto bailouts
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    The Congressional Oversight Panel charged with overseeing America's $700 billion federal bailout fund admits that it still isn't sure if the measure will save the auto industry in the long run, The Detroit News is reporting. As you'll recall, the $700 billion was divvied up between banks, ...

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    Report: General Motors eligible for a tax break of up to $45B
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    They say that only certain things in life are death and taxes. General Motors already escaped one of the two, and now it's getting a big break on the other – as part of GM's restructuring plan, it's eligible for up to $45 billion in tax breaks. Under the Troubled Asset Relief Program ...

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    Pay czar Kenneth Feinberg stepping down this summer
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    Kenneth Feinberg, the man who earned the nickname Pay Czar and then took a hammer and sickle to the wages of General Motors, Chrysler, Ally Financial and AIG execs, will be departing his post this summer. The new government job he's set to transfer to will keep him in the oversight business: head ...

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    Treasury reportedly says GM properly used escrow to repay loans
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    General Motors didn't use another government loan to pay off the much-celebrated $4.7 billion portion of its federal debt. According to a spokesperson with the Treasury Department cited by Bloomberg, the Detroit-based carmaker properly used funds from an escrow account to do the deed. The funds ...

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    Report: Congressional panel doubts GMAC business case, suggests breakup
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    "The panel is deeply concerned that Treasury has not required GMAC to lay out a clear path to viability or a strategy for fully repaying taxpayers." This, according to a Congressional Oversight Panel that was created as a watchdog for the U.S. Treasury's Troubled Asset Relief Program (TARP) ...

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    GMAC to post $10B loss after U.S. govt takes the wheel?
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    No one likes to bandy on with clichés, but in some cases avoiding a cliché is to ignore a long history of facts and experience that brought it into existence. The cliché we speak is the one about hurling good money after bad. After the government hosed down GMAC with another ...

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