GMAC Bailout Could Cost Taxpayers $6.3 Billion, Says Watchdog
Thursday, March 11th, 2010
WASHINGTON — The Treasury Department sank billions into auto finance giant GMAC Inc. without an exit strategy or proof the company was viable – a decision that could cost taxpayers $6.3 billion, a new watchdog report says. The government said the $17.2 billion bailout was a necessary step to save troubled automakers General Motors and Chrysler.
Here is the original:
GMAC Bailout Could Cost Taxpayers $6.3 Billion, Says Watchdog
