Agent009 submitted on 6/1/2011 Auto Spies Photos Timestamp: 11:45:35 AM
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The Obama administration said today it expects to lose less than $16 billion on its bailout of U.S. automakers and auto finance companies. Of the $80 billion invested in General Motors Co., Chrysler Group LLC, Ally Financial Inc. and Chrysler Financial, $40 billion has been recovered."While the government does not anticipate recovering all of the funds that it invested in the industry, the Treasury's loss estimates have consistently improved - from more than 60 percent in 2009 to less than 20 percent today," the White House said in a report released today.2012 Best Design And Style Award-Car Photo Gallery2012 Mercedes-Benz SLS AMG Roadster Photo Gallery2011 BMW 335d M-Sport Photo Gallery2011 Concorso d'Eleganza Villa d'Este Photo GalleryAston Martin V12 Zagato Photo GalleryAutoSpies.com Photo GalleriesIf you want to see your photos running on our homepage photo ticker, be sure to upload your photos on the go by sending them to Mobile@AutoSpies.com Share on FacebookRead Article
Of the $80 billion invested in General Motors Co., Chrysler Group LLC, Ally Financial Inc. and Chrysler Financial, $40 billion has been recovered.
"While the government does not anticipate recovering all of the funds that it invested in the industry, the Treasury's loss estimates have consistently improved - from more than 60 percent in 2009 to less than 20 percent today," the White House said in a report released today.
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"Normal is an illusion. What's normal for the spider is chaos for the fly."
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