U.S. taxpayers lost $9.3 billion on the government’s bailout of auto companies following the Treasury Department’s sale of its remaining stake in Ally Financial Inc. The Treasury took in $70.4 billion from the rescue of companies including General Motors Co., Chrysler Group and auto lender Ally after spending $79.7 billion of taxpayer funds, according to department data released Monday.
The U.S. government disposed of its remaining $1.28 billion stake in auto lender Ally Financial Inc. this month, resolving the last big bailout from the emergency government program to stem the 2008 financial crisis. The U.S. had owned as much as 74 percent of Ally after a $17.2 billion rescue.
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