Team Obama... the Truth About the TaxPayer Giveaway to Chrysler

1. 68

   MikeNVposted 14 years ago

   You can read it for yourself... and you should.  And you should vote out every Democrat and Republican that supported this giveaway of your tax dollars to the wealthy.  Everyone here knows that the Chrysler GM Handout wouldn't be repaid.
   
   http://news.yahoo.com/s/ap/20100517/ap_ … _repayment
   
   Billions of taxpayer dollars... going to the wealthy.  GM and Chrysler are still going to collapse.

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   1. 35

      jacobkuttytaposted 14 years agoin reply to this

      Thanks

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2. 70

   Ralph Deedsposted 14 years ago

   Why not look at the actual facts?!
   
   With a profitable quarter under its belt, anticipation is building about when General Motors will sell stock to the public again, allowing taxpayers to recoup their investment and eventually getting the government out of the car business.
   
   The Detroit automaker said Monday it made $865 million during the first three months of 2010, the first profitable quarter since 2007 and a major victory coming out of bankruptcy reorganization last summer.
   
   Chrysler Financial payment received
   U.S. loss is smaller than anticipated
   
   BY JUSTIN HYDE
   FREE PRESS WASHINGTON STAFF
   
      
   
   WASHINGTON -- The remnants of Chrysler left behind in bankruptcy have repaid $1.9 billion of the $4 billion lent by the U.S. government to keep the automaker alive at the end of 2008, the U.S. Treasury said Monday, leaving the government with a smaller-than-expected $2.1-billion loss.
   
   The unexpected payment came from Chrysler Financial as it winds down its business and satisfies the last of the debt outstanding from it and the "old" Chrysler. The "new" Chrysler still has a $7.1-billion loan from the U.S. Treasury, which also owns 9.9% of the automaker.
   
   The Treasury said of the $14.3 billion it had given Chrysler in total since late 2008, it had earned back $3.9 billion so far including Monday's payment, nearly all of which has come from Chrysler Financial. The payment was significantly more than the Treasury had expected to receive from the loan, which had been written off as part of Chrysler's bankruptcy.

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3. 60

   TMMasonposted 14 years ago

   They haven't made a dime that wasn't given to them.
   
   There is no profit in GM as of yes. Another piss filled balloon that should have been allowed to go burst. As long as our govt pisses into the leaky balloons to keep them full., it will never be over.

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4. 0

   jaynap01posted 14 years ago

   The unions helped the President get elected....enough said
   
   
   
   
   
   P.S. They were bailout in the early 80s also. Gm will never be the "world car leader".

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5. 68

   MikeNVposted 14 years ago

   "Why not look at the actual facts?!"
   
   Which is exactly what I do!
   
   Anyone talking publicly about the $18.3 Billion handed out to GMAC so they can promote their products?
   
   1 quarter of paper profit out of the last 20 and they are going to sell $50 Billion in stock based on that?
   
   That is some pretty powerful Kool-Aid to drink.
   
   So the Government gives away billions upon billions gets a teeny fraction of that money back and you are okay with that?  I'm not.  You see I don't have the option to pay taxes... they just take it.  And I'd prefer not too... because I'd prefer to keep the money I earn and not just give it away to Executives because they are buddys of Team Obama.
   
   GM is a total failure.  And the tax payer got screwed yet again so the wealthy could keep their wealth.

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6. 57

   leebertteaposted 14 years ago

   I found the bail out of Chrysler especially troubling since it was a private company. I don't think the government should be handing out taxpayer dollars to the owners of private corporations.

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