Taxpayer, Tarp Repayment | featured news

The government expects to recover more money than anticipated from the auto bailout as it pulls back financially from the sector, but taxpayers still face billions in potential losses, the White House said.

Treasury updated its projections for the cost of the 2008 Troubled Asset Relief Program, saying that for the first time the amount of funds that has been returned to taxpayers exceeds $250 billion.

American International Group Inc and the U.S. government agreed on a plan that would see the insurer repay taxpayers fully for bailing it out at the height of the financial crisis.

In its single biggest repayment of bailout loans so far, American International Group Inc. said Monday it is paying back nearly $4 billion in taxpayer aid with proceeds from a recent debt sale.