Taxpayers Face Heavy Losses on Auto Bailout - Political News - FOXNews.com

Taxpayers Face Heavy Losses on Auto Bailout - Political News - FOXNews.com: "The prospect of recovering the government's assistance to GM and Chrysler is heavily dependent on shares of the two companies rising to unprecedented levels, the report said. The government owns 10 percent of Chrysler and 61 percent of GM. The two companies are currently private but are expected to issue stock, in GM's case by next year.

The shares 'will have to appreciate sharply' for taxpayers to get their money back, the report said.

For example, GM's market value would have to reach $67.6 billion, the report said, a 'highly optimistic' estimate and more than the $57.2 billion GM was worth at the height of its share value in April 2008. And in the case of Chrysler, about $5.4 billion of the $14.3 billion provided to the company is 'highly unlikely' to ever be repaid, the panel said."