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On December 19, George W. Bush announced that he had approved the bailout plan, which would give loans of $17.4 billion to U.S. automakers GM and Chrysler, stating that under present economic conditions, "allowing the U.S. auto industry to collapse is not a responsible course of action."
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]
AIG received an $85 billion emergency loan in September 2008 from the Federal Reserve. [13] which AIG wais expected to repay by gradually selling off its assets. [14] In exchange, the federal government acquired a 79.9% equity stake in AIG. [14] Washington Mutual (WaMu) was seized in September 2008 by the US Office of Thrift Supervision (OTS). [15]
GM paid then-CEO Dan Akerson $9 million in cash and stock in 2013. By Paul Lienert and Bernie Woodall DETROIT -- The U.S. Treasury last year permitted top executives at General Motors (GM) and ...
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Corporate America appears to be feeling a little fatter these days and that, in turn, is prompting the Treasury Department to slim down its estimates on the cost of the $700 billion bailout that ...
The Emergency Economic Stabilization Act of 2008, also known as the "bank bailout of 2008" or the "Wall Street bailout", was a United States federal law enacted during the Great Recession, which created federal programs to "bail out" failing financial institutions and banks.
All that money had been returned. $5 billion in loan guarantees for Citigroup ($5 billion). The program closed, with no payment made, on December 23, 2009. $79.7 billion in loans and capital injections to automakers and their financing arms through the Automotive Industry Financing Program. $21.9 billion to buy "toxic" mortgage-related securities.