U.S. Lost $9.7 Billion on GM So Far, Sigtarp Reports

BLOOMBERG

The U.S. Treasury’s bailout fund has lost about $9.7 billion on its rescue of General Motors Co. (GM) and would need to sell its remaining shares in the automaker for an average of $147.95 to break even, a report to Congress said.

The Special Inspector General for the Troubled Asset Relief Program in a report issued yesterday estimated the realized losses on all GM shares sold from November 2010 through Sept. 13, 2013, at $9.7 billion. At that point, the U.S. owned 101.3 million shares. If it sold those for yesterday’s closing price, the government would lose about $760 million more, bringing the total loss to about $10.5 billion.

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