News Summary: Gov't loss on auto bailout rises

AP News
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Posted: Aug 13, 2012 6:27 PM

STOCK FLOP: taxpayers will lose $3.3 billion more on the auto industry bailout than the government predicted two months ago, hurt by General Motors' falling stock price.

BALLOONING BAILOUT: The Treasury Department expects to lose $25.05 billion on the bailout, up from a previous estimated loss of $21.7 billion. GM's stock price fell 15 percent during that period.

LONG AND WINDING ROAD: The government spent about $80 billion to bail out GM, Chrysler and Ally Financial, the former finance arm of GM. So far it's gotten back just over $37 billion.