Google loses money by placing it's ads as that could have been a paying customers ad in that position that they would have actually had outside money coming in paying for. I'm sure the same happened with JC Penny, their organic search results might have been penalized for a period of time but they were free to advertise in the paid search results.
They took the steps to correct the issue, it was only 1 day after it was even discovered. I don't see how they could of done something about it before they knew anything about it. I'm not saying Google is an angel by any means but I just don't see why they would go through the hassle and take the risk of PAYING for something like this to a third party than doing it themselves internally, for FREE. After all, they control the search engine. It is just not in their DNA, but then again things happen when you "blow-up".