TARP: Treasury's Exit from GM and Chrysler Highlights Competing Goals, and Results of Support to Auto Communities Are Unclear

United States. Government Accountability Office.

United States. Government Accountability Office.

关键词: Government accountability -- United States.;    auditing and financial management;    financial markets and institutions;    tarp;    letter report;   

RP-ID  :  GAO-11-471
RP-ID  :  318166

美国|英语

来源: UNT Digital Library

【 摘 要 】

A letter report issued by the Government Accountability Office with an abstract that begins "Since December 2008, the Department of the Treasury (Treasury) has committed $62 billion in Troubled Asset Relief Program (TARP) funding to General Motors (GM) and Chrysler. Under GAO's mandate to oversee TARP, this report addresses (1) how restructuring with federal assistance has affected GM's and Chrysler's financial condition, (2) what Treasury has done to ensure that it disinvests in GM and Chrysler so as to protect taxpayers' interests and what risks remain in recouping its investments, and (3) how restructuring has affected auto communities and what the White House Council on Auto Communities and Workers (Council) and its staff in the Department of Labor's Office of Recovery for Auto Communities and Workers (Auto Recovery Office) have done to mitigate these effects. GAO reviewed documents on the companies' financial performance and federal assistance to auto communities and interviewed company, Treasury, and community officials.."