Auto bailout: 78% spent so far

NEW YORK (CNNMoney.com) -- The U.S. auto industry has spent nearly 78% of the taxpayer funds lent to it by the Treasury Department through the Troubled Asset Relief Fund, according to a report released Thursday by a bailout overseer.

Neil Barofsky, special inspector general for the $700 billion TARP program said in his report that General Motors, Chrysler, GMAC and Chrysler Financial have spent $59.7 billion of the $76.9 billion that they received.


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