State Street Corporation
Taxpayers' bill for GM bailout: $11.2 billion

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 on Wednesday. In December, the government had put the loss at about $10.5 billion on its $49.5-billion investment. The Treasury sold its remaining shares in GM in December, signaling the end of Government Motors, as the Detroit automaker was derisively labeled by some critics after the U.S. government stepped in with...