You Don’t Have TARP’s Automotive Industry Financing Program To Kick Around Anymore
Or Ally Financial, for that matter. (Well, you can continue to kick Ally Financial around, but if you’d like to do so as a shareholder, which every American citizen has sort of been for the last six years, you’ll actually have to buy your own shares now.)
The U.S. government closed a chapter in financial-crisis history Friday when it sold its remaining shares of Ally Financial Inc. and shuttered its auto-bailout program, ending the last major pieces of a $426 billion rescue package that saved a swath of U.S. companies but never won public support.
The Treasury Department said the 2008 Troubled Asset Relief Program has netted a small profit, returning $441.7 billion on the $426.4 billion invested….