Tentative deal for U.S. to spend $773M to clean up abandoned GM sites

[WorkingOnIt]

You thought next month's IPO signaled a wind-down in government involvement with GM - guess again.

http://content.usatoday.com/communities ... gm-sites/1
http://www.businessweek.com/news/2010-1 ... ation.html

The deal faces a 30 day comment period before the bankruptcy court rules on it.

It's not clear to me whether this amount was included in previous bailout total estimates. The USA Today article states, "The money will come from the more than $1 billion the Treasury Department set aside to pay for disposal of Old GM assets." Liquidation of "Old GM", when it finally occurs, should be worth something, but I'm not holding my breath.


edit: Looking at other U.S. bailout totals reported this week, I guess another billion is a drop in the bucket.

AIG has received $182.3 billion but might actually pay it back.
http://www.dailyfinance.com/story/insur ... /19655107/

Mortgage market corporations Fannie Mae and Freddie Mac have received $135B and are still bleeding.
http://www.nytimes.com/2010/10/22/busin ... .html?_r=1