News In Brief

U.S. government and taxpayers out of the auto industry bailout

Kai Ryssdal Jul 21, 2011

This final note on the way out. The biggest trade in the markets today — definitely the most symbolic — might have been 98,000 shares of Chrysler that went for $560 million. With it, the United States government and American taxpayers officially got out of the car business.

The Treasury Department sold its last stake in Chrysler today to Fiat, which gives the Italian carmaker a 53.5 percent stake. Most of the rest is owned by the United Auto Workers, which will in theory unload it when Chrysler goes public again, sometime in the next year or two.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.