US government says it lost $11.2 billion on General Motors bailout

The US government lost $11.2 billion on its bailout of General Motors Co, more than the $10.3 billion the Treasury Department estimated when it sold its remaining GM shares in December, according to a government report released on Wednesday. The $11.2-billion loss includes a write-off in March of the government's remaining $826-million investment in 'old' GM, the quarterly report by a Treasury watchdog said. The US government...