The government earlier this month offloaded its 11.4-percent stake in loan provider Ally Financial, formerly known as GMAC. Unlike the bailouts for General Motors and Chrysler, the Ally investments proved profitable with a net gain of $2.4 billion.
The gains from Ally were not large enough to offset the $11.2 billion in losses attributed to GM. Taxpayers ultimately lost $9.26 billion on the program, though the impact was significantly lower than the government’s worst-case prediction of a $44-billion slide into the red.
“Operating results have improved, the industry added jobs, and [Troubled Asset Relief Program] investments have largely been repaid,” the government said in its latest TARP report.