Who: General Motors, Chrysler, their finance arms (GMAC, later Ally), and parts suppliers. What: TARP loans and equity to carry GM and Chrysler through government-managed bankruptcies in 2009.
$79.7B
committed or authorized
$79.7B
paid out
$70.4B
recovered (repayments, dividends, fees)
$12.1B
net cost (Treasury lifetime estimate)
Outcome
Closed December 2014, when Treasury sold its last Ally shares. Treasury's cash-basis loss was $9.3B.
Legal authority: Emergency Economic Stabilization Act of 2008 (TARP Automotive Industry Financing Program).
Who got it: Who got it
General Motors$51.0B
GMAC / Ally Financial$17.2B
Chrysler$12.5B
Profit (+) or loss (−) by company (ProPublica Bailout Tracker)
Oct 2008▲ Oversight addedCongress creates a special inspector general for TARP (SIGTARP) and a Congressional Oversight Panel in the bailout law itself. Source
2024▲ Oversight addedTARP's inspector general closes on schedule after 474 prosecutions, 326 prison sentences (75 of them bankers), and more than $11.4B recovered. Source
Worth knowing
The amounts by company sum to more than the program total because some commitments were not fully drawn. Profit and loss by company are ProPublica's tallies of money out and back; the program's net cost is Treasury's lifetime estimate.