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According to an April 2014 report of the Special Inspector General of the Troubled Asset Relief Program, the U.S. government had lost $11.2 billion (~$14.2 billion in 2023) in its rescue of General Motors. The U.S. government spent $50 billion to bail out GM, meaning it recovered 77.6 percent of its investment amount. [7]
The Detroit News published a story in 2005 on how the Big Three U.S. automakers paid more than 12,000 idled employees their full salary and benefits in "jobs bank" programs. The program was established in the 1984 UAW labor contracts with the Big Three to protect workers' salaries and discourage layoffs, as part of the automakers' contracts ...
The loan program, created in 2007, requires a "reasonable prospect of repayment" of the loan. Under Biden, the program has announced deals totaling $33.3 billion, including $9.2 billion for ...
Almost 670,000 Californians were enrolled in the SAVE program as of April, according to the White House. Court halts Biden’s student loan repayment plan. How this affects California borrowers
Total student loan debt, currently $1.76 trillion, continues to climb as a number of borrowers do not have access to debt relief, according to the Education Data Initiative. Notably, 47.9 million ...
Lewenza disagreed, saying that the bailout should be seen by Canadians as a loan that will be paid back when the country's economy is prosperous again. [ 7 ] On December 20, the government of Canada and the province of Ontario offered $3.3 billion in loans to the auto industry.
The 8th US Circuit Court of Appeals could rule soon on a Republican-led lawsuit challenging President Joe Biden’s student loan repayment plan after hearing oral arguments Thursday.
In early December, the Biden administration announced another round of forgiveness: $4.8 billion in relief for more than 80, 000 borrowers. When taken ... EDITORIAL: Biden's small wins on loan ...