The U.S. Department of Treasury has revealed the government's bailout of Chrysler and General Motors cost tax payers $9.26 (€7.61 / £5.94) billion.

The U.S. Department of Treasury has revealed the government's bailout of Chrysler and General Motors cost tax payers $9.26 (€7.61 / £5.94) billion.

While the government gave out $79.69 (€65.53 / £51.21) billion, they were able to recover $70.43 (€57.90 / £45.28) billion though stock sales, loan repayments, dividends and interest payments. This is still a massive loss but it's far less than original estimates of $44 (€36.18 / £28.26) billion.

Interestingly, the government actually made $2.4 (€1.97 / £1.54) billion off their bailout of Ally Financial but this was offset by a $1.29 (€1.06 / £0.82) billion loss on Chrysler and a $10.5 (€8.63 / £6.74) billion loss on GM.

In a statement earlier this month, U.S. Treasury Secretary Jacob Lew said "This program [TARP] was a crucial part of the Obama Administration’s effort to stop the financial crisis and protect the economy from slipping into a second Great Depression." He added, the "automobile industry is back" and has "added hundreds of thousands of auto jobs since the summer of 2009."

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U.S. loses over $9 billion on Chrysler & GM bailouts