Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Treasury: U.S. to lose $25 billion on auto bailout

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

DAVID SHEPARDSON
Detroit News
Aug 14, 2012

The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That’s 15 percent higher than its previous forecast.

In a monthly report sent to Congress on Friday, the Obama administration boosted its forecast of expected losses by more than $3.3 billion to almost $25.1 billion, up from $21.7 billion in the last quarterly update.

The report may still underestimate the losses. The report covers predicted losses through May 31, when GM’s stock price was $22.20 a share.

On Monday, GM stock fell $0.07, or 0.3 percent, to $20.47. At that price, the government would lose another $850 million on its GM bailout.

Full article here

This article was posted: Tuesday, August 14, 2012 at 1:54 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
NY Times Publishes Fabricated Evidence to Sell WW3 See the rest on the Alex Jones YouTube channel.

Inside Information: A Trail Of Evil See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.