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Gov't report says US lost $11.2B on GM bailout

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NEW YORK (AP) — A new report says taxpayers lost $11.2 billion on the government's bailout of General Motors. The estimate comes from a quarterly report Wednesday to Congress by a government watchdog that oversees the bailout, and is up from a previous estimate of $10.5 billion. The Detroit automaker needed the $49.5 billion bailout to survive its bankruptcy restructuring in 2009. The company...

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