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Briefs: Auto bailout loss forecast cut by $750M
Nov 10th 2012, 06:10

Comments The 2011 Chrysler 200 has engine stalling problems, the automaker says. (Bill Delaney) Washington â€" The U.S. Treasury on Friday lowered its forecast of losses on the $85 billion auto bailout by $750 million. In a quarterly update to Congress, the Treasury said it now expects to lose $24.3 billion on the auto bailout, down from its estimate in August of $25.1 billion. The Treasury â€" which still holds 500 million shares of stock in General Motors Co., or a 26.5 percent stake as part of its $49.5 billion bailout â€" has given no timetable on when it might seek to exit. Last year, the government exited Chrysler Group LLC and booked a $1.3 billion loss on its $12.5 billion...

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