The government announced that they expect taxpayers will take a huge loss on the money lent to Chrysler and General Motors. The losses could run as high as $34 billion dollars. Auditors say they have recouped some of the money lent to the corporations, but much of the money will be lost.
The government still has a stake in the companies as it owns about 10 % of Chrysler and about 61% of GM. These shares will be sold when the companies conduct a public stock offering in the future. I sure hope the auctions go well!!