GMAC LLC
Maximum Amount:
$16.93 billion
Amount Spent:
$15.32 billion
Deficit Impact:
$9.57 billion This car company received financial assistance from the US Treasury to avoid the possibility of failure and any negative market impact that business collapse could carry with it. In order to comply with the program, the company needs to follow a strict set of standards which include creating a viability plan and limiting executive salaries.
Source:
Notes:
Amount spent indicates loans and other funds issued as of 3/2/2011 (http://www.ustreas.gov/initiatives/eesa/transactions.shtml). Maximum amount is original loan amounts. Deficit impact calculated by CRFB, using CBO's practice of estimating costs on a risk-adjusted present value basis. Deficit impact is derived from CBO's overall subsidy rate for assistance to the automobile industry (60%), as listed in the CBO's January 2010 baseline.