Congressional Oversight Panel Releases Report on Auto Bailout

An independent Congressional report into the government's aid to the auto industry says things are working out a lot better than it appeared they would a year ago.

The good news according to this report is the long term cost to the taxpayers has been more than cut in half from $40 billion to $19 billion, and that GM and Chrysler are on the road to financial stability.

There are several concerns, however, including: did treasury sell its stock too soon; and if they had waited could they have raised more money. The panel also expressed concern that the government may have been too hands-off. However, the Obama administration says they had no intention of running an auto company.

(The Associated Press Contributed To This Report)