Auto Industry Bailout, Automaker | featured news

The U.S. Troubled Asset Relief Program, which risked $700 billion of government funds to bail out troubled banks and automakers, will cost taxpayers a mere $25 billion, according to an estimate released on Monday by the nonpartisan Congressional Budget Office.

The president proclaims the government's support of domestic automakers a success story in a pair of Michigan stops.

General Motors chairman and chief executive, Ed Whitacre, Jr. will receive a compensation package worth $9 million, the automaker said Friday.

Automaker will repay $6.7B in taxpayer-funded loans by end of June, new chief executive says.