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Government losing more on auto bailout

by
General Motors world headquarters (C) is seen along the Detroit river in downtown Detroit
General Motors world headquarters (C) is seen along the Detroit river in downtown Detroit

DETROIT (WKZO) -- The U.S. government is expected to lose more than 25-billion dollars on the 85-billion dollar auto bailout.

According to a new Treasury Department report, this is 15-percent higher than originally projected.  The report covers predicted losses through the first five months of the year when General Motors stock was selling for over 22-dollars a share.

The government still holds 500-million shares of General Motors stock.

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