Five years after the U.S. government started injecting hundreds of billions of dollars into auto makers, financial institutions and the housing sector, American taxpayers can expect a small profit from an era of historic federal bailouts.
The U.S. Treasury, which pumped out $421.6 billion for its financial-crisis rescues, will have recouped more than $432 billion from bailout recipients once it unloads its remaining General Motors Co.GM -0.24% stock. The Treasury Department, which announced the final steps Thursday, expects to sell the government’s position in GM by the end of the year.
The GM bailout itself hasn’t been profitable and is currently on track to lose more than $10 billion.
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