09-09-2009, 10:30 AM
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Banned
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Join Date: Nov 2003
Location: Middle Of Nowhere,
USA
Cobra Make, Engine: ERA 428 FE 4-speed CR "TL" heavy spline
Posts: 3,907
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Not Ranked
Taxpayers face heavy losses on auto bailout
Taxpayers face heavy losses on auto bailout
WASHINGTON (AP) - Taxpayers face losses on a significant portion of the $81 billion in government aid provided to the auto industry, an oversight panel said in a report to be released Wednesday.
The Congressional Oversight Panel did not provide an estimate of the projected loss in its latest monthly report on the $700 billion Troubled Asset Relief Program. But it said most of the $23 billion initially provided to General Motors Corp. and Chrysler LLC late last year is unlikely to be repaid.
http://apnews.myway.com/article/20090909/D9AJOCJ00.html
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Geez, what a pile of poop!
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