To date, Chrysler has paid back most of its loans and today Ally Financial, the former financing arm of General Motors, has announced that the U.S. Treasury will sell its remaining 54.9 million shares in Ally, originally purchased under Bush's bailout. With a closing price of $22.75, this should net around $1.25 billion. According to Reuters, the U.S. Treasury has already banked $18.3 billion from its original $17.2 billion investment in Ally. Most of that derived from when the financial company went public in April and the Treasury sold most of its stake.
Since Bush left office, he has defended the government bailout, saying that if given the same choice, he'd do it again.
- Politics & Government
- Barack Obama