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The Government Bailouts Just Ended, With Billions In Profit

2014-12-22 16:39:02| Automakers - Topix.net

On Friday, the U.S. Treasury Department announced that it had sold its remaining shares of Ally Financial, the former financing subsidiary of General Motors, for $1.3 billion, effectively ending the auto and bank bailouts it began under President George W. Bush in 2008. The government also announced that the Troubled Asset Relief Program for banks and the Detroit bailouts yielded $15.35 billion in profit .

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