As for GMAC, it hasn't paid back any of its bailout funds.
The incentives offered to GMAC Mortgage aren't meant to be repaid.
In practical terms, the best way to sum up GM's bailout is this: Taxpayers committed as much as $70.5 billion to the automaker and its one-time subsidiaries at the pinnacle. Just $21 billion, or 30%, has been returned so far, with another $49.5 billion outstanding. Taxpayers may offer GM's former mortgage lender another $1.5 billion in incentives, free of charge, to help troubled borrowers. (GMAC Mortgage, it's worth noting, is the only servicer that's been sued by the government for alleged fraud over the so-called "robosigning" scandal.)
It's true that General Motors has made great progress, a whole lot faster than anyone expected. The Treasury believes it will lose about $17 billion on automotive industry investments, far below initial cost estimates. But, importantly, the most recent from TARP's inspector general indicates that GM's offering price fell about $100 short per share."In order for Treasury to recoup its common stock investment in New GM and the $986 million retained by Old GM, a review by SIGTARP for Senator Charles Grassley determined that New GM would need to receive an average of $133.78 per share, before giving effect to any stock split that may occur," says
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