U.S. loses $1.3 billion in exiting Chrysler

[Ringel05]

NEW YORK (CNNMoney) -- U.S. taxpayers likely lost $1.3 billion in the government bailout of Chrysler, the Treasury Department announced Thursday.

The government recently sold its remaining 6% stake in the company to Italian automaker Fiat. It wrapped up the 2009 bailout that was part of the Troubled Asset Relief Program six years early.

Taxpayers lose $1.3 billion as govt. exits Chrysler - Jul. 21, 2011

 

[CrusaderFrank]

Small price to pay to keep the UAW happy

 

[uscitizen]

sucks but not as bad as the 6 billion or so just plain lost in Iraq.

 

[Zoom-boing]

Overall, $1.3 billion will not be recovered from the bankrupt Old Chrysler, but Massad still called it a "major accomplishment."

That's because the government originally expected it would lose much more on the auto bailout. Initial estimates from the Congressional Budget Office in 2009, predicted the government would lose $40 billion on the overall auto bailout.

Now it estimates, by the time the $80 billion program is completely wrapped up, taxpayers will have lost $14 billion.

What would have happened to GM and Chrysler if they had restructured via bankruptcy but not received any taxpayer dollars?

Also, they received TARP funds. Weren't those monies specifically intended for the banking industry?

 

[blastoff]

Hey, if it makes the union stooges happy it's a small price to pay IMO. Look at it like they own a piece of the rock, er....I mean bumper.

 

[shintao]

Overall, $1.3 billion will not be recovered from the bankrupt Old Chrysler, but Massad still called it a "major accomplishment."

That's because the government originally expected it would lose much more on the auto bailout. Initial estimates from the Congressional Budget Office in 2009, predicted the government would lose $40 billion on the overall auto bailout.

Now it estimates, by the time the $80 billion program is completely wrapped up, taxpayers will have lost $14 billion.

What would have happened to GM and Chrysler if they had restructured via bankruptcy but not received any taxpayer dollars?

Also, they received TARP funds. Weren't those monies specifically intended for the banking industry?

Absolutely nothing. GM had both the assets and money to correct their fiscal mistakes.

 

[code1211]

Overall, $1.3 billion will not be recovered from the bankrupt Old Chrysler, but Massad still called it a "major accomplishment."

That's because the government originally expected it would lose much more on the auto bailout. Initial estimates from the Congressional Budget Office in 2009, predicted the government would lose $40 billion on the overall auto bailout.

Now it estimates, by the time the $80 billion program is completely wrapped up, taxpayers will have lost $14 billion.

What would have happened to GM and Chrysler if they had restructured via bankruptcy but not received any taxpayer dollars?

Also, they received TARP funds. Weren't those monies specifically intended for the banking industry?

Absolutely nothing. GM had both the assets and money to correct their fiscal mistakes.

If GM had filed bankruptcy in a normal and legal fashion, the bondholders would have gotten some of their money back, the corporation would have had a plan to repay creditors at a reduced rate of the debt incurred and the coporation would have been re-started from scratch with NO OBLIGATION TO USE A UNION OR ITS MEMBERS AS EMPLOYEES.

Because the scam was worked under the auspisis of the TARP regulators and the corrupt NLRB, the bondholders were completely screwed out of any of their investment, the creditors were put on a further reduced schedule of repayment and the UAW was held in complete and exhalted status as an ongoing feature of the American Auto Industry.

It is as if we are treating a patient for cancer and cutting out his internal organs and leaving the cancer in place.

Now, after illegally taking away any return on the investment to the bond holders, the Obama Adminstration is mystified that the investor group in the population does not want to risk their money in another venture where the Obama Administration can once again confiscate it on a caprice.

The Obama Administration assumes that everyone is as dumb as they actally are.

From an Arabian Proverb:

"... He who knows not and knows not he knows not, is a fool. Shun him. ..."

 

[editec]

NEW YORK (CNNMoney) -- U.S. taxpayers likely lost $1.3 billion in the government bailout of Chrysler, the Treasury Department announced Thursday.

The government recently sold its remaining 6% stake in the company to Italian automaker Fiat. It wrapped up the 2009 bailout that was part of the Troubled Asset Relief Program six years early.

Taxpayers lose $1.3 billion as govt. exits Chrysler - Jul. 21, 2011

Our government OVERPAID for a lot of things during this bailout.

By doing so who did they benefit?

the bondholders and stocdkholders of those corporations.

That is SOCIALISM (masquarding as capitalism) for the wealthy.

Who pays? EVERYBODY

 

[CrusaderFrank]

NEW YORK (CNNMoney) -- U.S. taxpayers likely lost $1.3 billion in the government bailout of Chrysler, the Treasury Department announced Thursday.

The government recently sold its remaining 6% stake in the company to Italian automaker Fiat. It wrapped up the 2009 bailout that was part of the Troubled Asset Relief Program six years early.

Taxpayers lose $1.3 billion as govt. exits Chrysler - Jul. 21, 2011

Our government OVERPAID for a lot of things during this bailout.

By doing so who did they benefit?

the bondholders and stocdkholders of those corporations.

That is SOCIALISM (masquarding as capitalism) for the wealthy.

Who pays? EVERYBODY

In a real world Chapter 11 it would have been Adios UAW so the bondholder would have been treated fairly and legally, instead Obama stood the process on its head

 

[Wry Catcher]

A couple of points to consider.

The economy by all accounts was in piss poor shape bacause GWB was either incompetent or intentionally malicious; I believe the former.

Next, there is no blue print, road map or other guide available to a newly elected POTUS when faced with the greatest economic crisis since 1929.

Nest, President Obama acted with the necessary speed and pragmatically to stop a panic which threatened to bring the entire house of cards down.

The president has presided over a house divided since the day he took the oath of office. Adults in both parties understood the dangers our country faced and acted in the best interest of the nation. Others acted in self interest and attacked the president on every front, making his very difficult job much harder and slowed the economic recovery.

Finally, the lust for wealth and power has always superseded concern for the nation as a whole, and we continue to see efforts by the Republican Party and the Right Wing media to slow recovery, seek benefits for the wealthiest Americans and deprive the engine of America, the American worker, of hard fought gains.

There is no evidence that the leadership of the Republican Party has made any effort to solve unempolyment, job seekers continue to be frustrated as the ideological right continues to put self interest first and use the American worker as a pawn as they strive to remake America into a rerun of the Gilded Age.

 

[CrusaderFrank]

A couple of points to consider.

The economy by all accounts was in piss poor shape bacause GWB was either incompetent or intentionally malicious; I believe the former.

Next, there is no blue print, road map or other guide available to a newly elected POTUS when faced with the greatest economic crisis since 1929.

Nest, President Obama acted with the necessary speed and pragmatically to stop a panic which threatened to bring the entire house of cards down.

The president has presided over a house divided since the day he took the oath of office. Adults in both parties understood the dangers our country faced and acted in the best interest of the nation. Others acted in self interest and attacked the president on every front, making his very difficult job much harder and slowed the economic recovery.

Finally, the lust for wealth and power has always superseded concern for the nation as a whole, and we continue to see efforts by the Republican Party and the Right Wing media to slow recovery, seek benefits for the wealthiest Americans and deprive the engine of America, the American worker, of hard fought gains.

There is no evidence that the leadership of the Republican Party has made any effort to solve unempolyment, job seekers continue to be frustrated as the ideological right continues to put self interest first and use the American worker as a pawn as they strive to remake America into a rerun of the Gilded Age.

I thought Clinton said Bush41 economy was the worst since the FDR Depression?

 

[Wry Catcher]

A couple of points to consider.

The economy by all accounts was in piss poor shape bacause GWB was either incompetent or intentionally malicious; I believe the former.

Next, there is no blue print, road map or other guide available to a newly elected POTUS when faced with the greatest economic crisis since 1929.

Nest, President Obama acted with the necessary speed and pragmatically to stop a panic which threatened to bring the entire house of cards down.

The president has presided over a house divided since the day he took the oath of office. Adults in both parties understood the dangers our country faced and acted in the best interest of the nation. Others acted in self interest and attacked the president on every front, making his very difficult job much harder and slowed the economic recovery.

Finally, the lust for wealth and power has always superseded concern for the nation as a whole, and we continue to see efforts by the Republican Party and the Right Wing media to slow recovery, seek benefits for the wealthiest Americans and deprive the engine of America, the American worker, of hard fought gains.

There is no evidence that the leadership of the Republican Party has made any effort to solve unempolyment, job seekers continue to be frustrated as the ideological right continues to put self interest first and use the American worker as a pawn as they strive to remake America into a rerun of the Gilded Age.

I thought Clinton said Bush41 economy was the worst since the FDR Depression?

You thought? That's funny. If President Clinton said so, I'm sure you have the quote in context handy.

 

[percysunshine]

A trillion here, a trillion there. Soon you are talking real money.

 

[xsited1]

A couple of points to consider.

The economy by all accounts was in piss poor shape bacause GWB was either incompetent or intentionally malicious; I believe the former.

Next, there is no blue print, road map or other guide available to a newly elected POTUS when faced with the greatest economic crisis since 1929.

Nest, President Obama acted with the necessary speed and pragmatically to stop a panic which threatened to bring the entire house of cards down.

The president has presided over a house divided since the day he took the oath of office. Adults in both parties understood the dangers our country faced and acted in the best interest of the nation. Others acted in self interest and attacked the president on every front, making his very difficult job much harder and slowed the economic recovery.

Finally, the lust for wealth and power has always superseded concern for the nation as a whole, and we continue to see efforts by the Republican Party and the Right Wing media to slow recovery, seek benefits for the wealthiest Americans and deprive the engine of America, the American worker, of hard fought gains.

There is no evidence that the leadership of the Republican Party has made any effort to solve unempolyment, job seekers continue to be frustrated as the ideological right continues to put self interest first and use the American worker as a pawn as they strive to remake America into a rerun of the Gilded Age.

That's more than a couple of points, but whatever. Obama did not preside over a house divided since the day he took office. You know that's false so why did you say it? And there is no proof that Obama "acted with the necessary speed and pragmatically to stop a panic which threatened to bring the entire house of cards down." None.

So you've got nothing. This is just another one of your disgusting attempts to rationalize the behavior of a failed President ostensibly because he has a (D) at the end of his name.

 

[CrusaderFrank]

A couple of points to consider.

The economy by all accounts was in piss poor shape bacause GWB was either incompetent or intentionally malicious; I believe the former.

Next, there is no blue print, road map or other guide available to a newly elected POTUS when faced with the greatest economic crisis since 1929.

Nest, President Obama acted with the necessary speed and pragmatically to stop a panic which threatened to bring the entire house of cards down.

The president has presided over a house divided since the day he took the oath of office. Adults in both parties understood the dangers our country faced and acted in the best interest of the nation. Others acted in self interest and attacked the president on every front, making his very difficult job much harder and slowed the economic recovery.

Finally, the lust for wealth and power has always superseded concern for the nation as a whole, and we continue to see efforts by the Republican Party and the Right Wing media to slow recovery, seek benefits for the wealthiest Americans and deprive the engine of America, the American worker, of hard fought gains.

There is no evidence that the leadership of the Republican Party has made any effort to solve unempolyment, job seekers continue to be frustrated as the ideological right continues to put self interest first and use the American worker as a pawn as they strive to remake America into a rerun of the Gilded Age.

I thought Clinton said Bush41 economy was the worst since the FDR Depression?

You thought? That's funny. If President Clinton said so, I'm sure you have the quote in context handy.

And Mr. Gore lambasted Mr. Bush for what he called "the worst economic performance since the Great Depression."

THE 1992 CAMPAIGN - The Overview - BUSH SAYS CLINTON IMPERILS BUSINESS - NYTimes.com

 

[code1211]

A couple of points to consider.

The economy by all accounts was in piss poor shape bacause GWB was either incompetent or intentionally malicious; I believe the former.

Next, there is no blue print, road map or other guide available to a newly elected POTUS when faced with the greatest economic crisis since 1929.

Nest, President Obama acted with the necessary speed and pragmatically to stop a panic which threatened to bring the entire house of cards down.

The president has presided over a house divided since the day he took the oath of office. Adults in both parties understood the dangers our country faced and acted in the best interest of the nation. Others acted in self interest and attacked the president on every front, making his very difficult job much harder and slowed the economic recovery.

Finally, the lust for wealth and power has always superseded concern for the nation as a whole, and we continue to see efforts by the Republican Party and the Right Wing media to slow recovery, seek benefits for the wealthiest Americans and deprive the engine of America, the American worker, of hard fought gains.

There is no evidence that the leadership of the Republican Party has made any effort to solve unempolyment, job seekers continue to be frustrated as the ideological right continues to put self interest first and use the American worker as a pawn as they strive to remake America into a rerun of the Gilded Age.

You are entitled to your own unique opinion. Using your own unique facts is not entitled. The day that the Big 0 started presiding, he presided over a filiabuster proof Senate and a House with an overwhelming majority. He could and did enact everything, EVERYTHING, that he wanted and that the he thought was most important.

With that Carte Blanche, he has succeeded in everything that he tried to do and failed to help with the problems of the nation.

When Rush Limbaugh said, "I hope he fails", he was not saying that he hoped that the country failed. He was saying that the policies of the Big 0 were harmfull to the well being of the nation and that if the Big 0 was successful, the nation would be the worse because of it.

It is abundantly clear that the Big 0 has succeeded and that the country is harmed.

Out of curiosity, what do you propose the Leadership of the Republican party do? The President has promised to veto anything that they have suggested, Harry Ried will not even consider legislation passed in the House on the floor of the Senate and the country continues to sink under the weight of the Democrat beaurocratic restraints and attacks.

Do you also believe that the Little Sisters of the Poor are not doing their job to save the economy?

 

[Quantum Windbag]

NEW YORK (CNNMoney) -- U.S. taxpayers likely lost $1.3 billion in the government bailout of Chrysler, the Treasury Department announced Thursday.

The government recently sold its remaining 6% stake in the company to Italian automaker Fiat. It wrapped up the 2009 bailout that was part of the Troubled Asset Relief Program six years early.

Taxpayers lose $1.3 billion as govt. exits Chrysler - Jul. 21, 2011

$1.3 billion going out
$4.0 billion going in

What's $5.3 billion among friends?

 

[Sarah G]

sucks but not as bad as the 6 billion or so just plain lost in Iraq.

It just plain got lost, gone, poof.

 

[Dr.House]

Meh... What's 1.3 billion....

Proverbial drop in the 0bama-spendathon bucket...

 

[Quantum Windbag]

A couple of points to consider.

The economy by all accounts was in piss poor shape bacause GWB was either incompetent or intentionally malicious; I believe the former.

Dubya screwed up Chrysler?

Who knew.

Next, there is no blue print, road map or other guide available to a newly elected POTUS when faced with the greatest economic crisis since 1929.

If he couldn't do the job he shouldn't have run.

Nest, President Obama acted with the necessary speed and pragmatically to stop a panic which threatened to bring the entire house of cards down.

I don't remember any panic.

The president has presided over a house divided since the day he took the oath of office. Adults in both parties understood the dangers our country faced and acted in the best interest of the nation. Others acted in self interest and attacked the president on every front, making his very difficult job much harder and slowed the economic recovery.

Didn't he claim to be a uniter?

The truth is that everyone acted in their own self interest. Let me repeat that so you understand my point, everyone looked out for their own interests. There was no one involved in the debate that put country above their own interests because they all believe that their interests best serve the country.

There are a few that have principles and stick to them, but they all beleive they know better than anyone what is best for themselves, and everyone else. They would not be there otherwise. Until you understand that you have no real basis for even discussing politics.

Finally, the lust for wealth and power has always superseded concern for the nation as a whole, and we continue to see efforts by the Republican Party and the Right Wing media to slow recovery, seek benefits for the wealthiest Americans and deprive the engine of America, the American worker, of hard fought gains.

Yep, no one on the left cares about either money or power. This is what makes you so much more than a partisan hack. You are a blind idiotic fucking partisan hack that is so stupid you should not be allowed to dress yourself. You are a clear and present danger to yourself and everyone around you.

Damn, that felt good.

Seriously, what the fuck planet do you live on? Are you aware that 7 of the top 10 richest members of Congress are left wing Democrats? That Harry Reid, who claims he lives on a fixed income because the only money he has ever made is his Congressional salary, has a net worth of between
$2.8 million and $6.3 million? Did he get that by putting country above his own needs, or did he get it by lusting after power and wealth?

There is no evidence that the leadership of the Republican Party has made any effort to solve unempolyment, job seekers continue to be frustrated as the ideological right continues to put self interest first and use the American worker as a pawn as they strive to remake America into a rerun of the Gilded Age.

So, again, I ask, what has the Democratic Senate done? Where is the budget for this year? Last year? The year before that?

Both parties are the problem, and some people understand that, which might explain why Boehner and Pelosi have given up on Obama and Reid and are working on their own debt deal. If they iron out the bugs the ball will be squarely in Obama's court, and we can finally see who has the best interests of others in mind.