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U.S. Lost $11.2 Billion in GM Bailout, TARP Report Says

The U.S. Treasury’s bailout fund lost $11.2 billion on the rescue of General Motors Co. with the government’s exit of the largest U.S. automaker, a report said.

The total includes $826 million that the Treasury wrote off in March for its remaining claim in old GM, the special inspector general for the Troubled Asset Relief Program said in a report to Congress yesterday. In December, the government had put the loss at about $10.5 billion on its $49.5 billion investment.