creator Chrysler Corporation 4796 creator General Motors Corporation 5182 creator United States. Department of the Treasury. Office of Financial Stability 6300 creator United States. Government Accountability Office 5927 GAO-10-151. government publication United States. Department of the Treasury. Office of Financial Stability 6300 Troubled Asset Relief Program (U.S.) 5915 Chrysler Corporation 4796 General Motors Corporation 5182 Debt financing (Corporations) 4899 Management 5521 United States 4293 The Department of the Treasury (Treasury) provided $81.1 billion in Troubled Asset Relief Program (TARP) aid to the U.S. auto industry, including $62 billion in restructuring loans to Chrysler Group LLC (Chrysler) and General Motors Company (GM). In return, Treasury received 9.85 percent equity in Chrysler, 60.8 percent equity and $2.1 billion in preferred stock in GM, and $13.8 billion in debt obligations between the two companies. As part of Government Accountability Office's (GAO) statutory responsibilities for providing oversight of TARP, this report addresses (1) steps Chrysler and GM have taken since December 2008 to reorganize, (2) Treasury's oversight of its financial interest in the companies, and (3) considerations for Treasury in monitoring and selling its equity in the companies. GAO reviewed documents on the auto companies' restructuring and spoke with officials at Treasury, Chrysler, and GM, and individuals with expertise in finance and the auto industry. eng Troubled Asset Relief Program Continued Stewardship Needed as Treasury Develops Strategies for Monitoring and Divesting Financial Interests in Chrysler and GM Continued Stewardship Needed as Treasury Develops Strategies for Monitoring and Divesting Financial Interests in Chrysler and GM 557225533 Washington, D.C. monographic 2009-11-02 U.S. Govt. Accountability Office November 2, 2009 5045 2026-01-26 09:43:33 2015-12-22 16:36:54 oclc title HG4028.D3 U55 2009eb online GA 1.13:GAO-10-151 text
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