IN THE HOLE

Government Lost $9.26B on Auto Bailout

Recovered $70.43 billion.

Six years after the U.S. government rescued the auto industry from bankruptcy, the Department of Treasury is $9.26 billion short, according to accounting figures released Monday. The Treasury said it recovered $70.43 billion of the $79.69 billion it gave General Motors Corp., Chrysler LLC, as well as auto lending firms Ally Financial Inc. and Chrysler Financial. The government closed the books on the program on Dec. 19, following the Treasury’s sale of its remaining 11.4 percent stake in the Detroit-based Ally, formerly known as GMAC. The bailout program began in December 2008 under President George W. Bush with $25 billion in aid, followed by an additional $55 billion under President Obama. The government was repaid through dividends, interest payments, partial loan payments, and stock sales.