Profitable Chrysler pays back bailout money

Discussion in 'Stock Market' started by Chris, May 24, 2011.

  1. Chris
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    Chris Gold Member

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    NEW YORK (CNNMoney) -- Chrysler has paid back $7.6 billion worth of high-interest bailout loans to the U.S. and Canadian governments, the automaker said Tuesday.

    The payback included the $5.9 billion the carmaker owed in loans to U.S. taxpayers and the $1.7 billion owed to the Canadians, Chrysler said.

    "The original loans were repaid in full, more than six years ahead of schedule, along with the payment of accrued interest and additional consideration," said Chrysler, in a statement.

    Chrysler pays off $7.6 billion in government debt - May. 24, 2011
     
  2. RetiredGySgt
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    RetiredGySgt Platinum Member

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    Is this like the false claim that GM paid theirs back?
     
  3. Zander
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    Zander Platinum Member

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    • Thank You! Thank You! x 1
  4. Quantum Windbag
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    Quantum Windbag Gold Member

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    I was halfway willing to let this stupidity slide and simply ignore the thread I already came across touting this supposed triumph until someone with more knowledge of the numbers came along and blew it out of the water, but seeing this second thread just got to me.

    Tell me, how does paying a measly $7 or 8 billion count when they got upwards of $20 billion dollars from the government over the last few years. I wonder if this is going to be like GM paying back the loans with more government money.
     

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