March 11 The U.S. Treasury received about $489.9
million from the sale of General Motors Co's shares in
February, it said in its monthly report to Congress on its
Troubled Asset Relief Program.
The TARP had pumped $50 billion in GM and $17 billion in
Ally Financial, the former auto lending arm of GM, to save them
from collapse during the 2007-2009 crisis.
The Treasury has recovered about $29.8 billion of its
investment in GM through repayments, sales of stock, dividends,
interest, and other income, it said in the report.
In December, GM bought 200 million of its own shares from
the Treasury. This left the Treasury with about 300 million
shares of GM, which it intended to sell within 15 months.