U.S. criticized on regulation of financial services Chrysler (Reuters)

WASHINGTON (Reuters) - U.S. Treasury may not have fully approved the settlement of his interest in Chrysler financial services last year and not received back strong enough for taxpayers, a watchdog of rescue said in a report Thursday.

The agreement more clearly illustrated a broader bipartisan Congressional Oversight Panel conclusion: that the administration of the Obama may be too loving scenario politically attractive rapidly cut its participation in the car company, instead of patiently manage the interests of the taxpayer.

"The efforts of the Treasury have in some cases lacked transparency and accountability," said former Delaware Senator Ted Kaufman, who directed last report on the automotive sector.

Kaufman said his group including administration is faced with difficult decisions in orchestrating their rehabilitation and bankruptcy. Despite criticism, the Panel said in the report that government intervention was ambitious and corporations now "appear to be on a promising path."

However, he says taxpayers will probably lose billion public-now GM and Treasury may have "money left on the table" in its dealings with the company of private equity Cerberus Capital Management on Chrysler, consumer financial services unique financing arm the automaker.

Treasury has recovered about half of the 50 billion extended to GM in Exchange and approximately $ 2.2 billion to $ 12 billion given to Chrysler in exchange for an interest at 10 per cent of nearly 61% of the company restructured.

Treasury assumes that 40% of the fairness of Chrysler financial services as part of a loan of pre-bankruptcy of 3.5 billion in January 2009 parent ready unit, Chrysler Holding, which belonged to the time by Cerberus.

Treasury moved to 1.9 billion – a loss of $ 1.6 billion loan - in May 2010, transfer workset to Cerberus, which becomes the sole owner.

Cerberus then agreed to sell the company funding of $ 6.3 billion to the Toronto-Dominion Bank (TD).(At) in December, raising eyebrows on the manipulation of the Treasury of the colony.

The Committee found that officials of the Treasury Board apparently performed "" limited evaluation diligence, focusing on the merits of the offer from Cerberus,"says the report.

Conseil du Trésor, the expert group has declared, provided that financial services Chrysler could be returned downwards, which would limit its value and noted, at the time of colonization, the price paid by Cerberus was correct.

Financial services Chrysler, however, continued to invest in his business to find a strategic partner in TD Bank.

Treasury has challenged the finding may not have fully reviewed the colony of Chrysler financial services saying: he spent several months due diligence and hired an independent financial adviser to help the assessment and verification for other potential buyers.

The Panel was appointed by Congress to examine subsidies under the Troubled Asset Relief Program. General Motors Co (GM.)(N) and Chrysler, now under the control of Fiat Spa Italian management (FIA).(MI), received assistance rescue and the bankruptcy of Treasury in 2009.

Ron Bloom, head of administration on the restructuring of the auto, said this week that prevented rescue plan widespread economic hardship in Detroit.

He also stated that the Treasury Board moves responsibly leave the company and that swings to GM and Chrysler have provided "concrete statements remarkably quickly."

Resurgence of Chrysler, says, "surprised almost everyone."

(Reported by John Crawley;) (Editing by Richard Chang)