Obama Fines GM $35 Million After Losing Billions in Bailout

Obama Fines GM $35 Million After Losing Billions in Bailout

The Department of Transportation announced Friday that it has reached an agreement with General Motors, and the company will pay a $35 million penalty for delaying a recall of vehicles with faulty ignition switches.

But $35 million is only a fraction of the money lost by the U.S. government in the bailout of General Motors.

In May, a report from the TARP inspector general noted that the U.S. Treasury had lost $11.2 billion in the bailout program.

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Big Government, Reuters, General Motors


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