12-02-2011, 02:42 PM
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CC Member
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Join Date: Nov 2007
Cobra Make, Engine: Midstates/Shell Valley Street Cobra
Posts: 899
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Quote:
Originally Posted by JTD
WASHINGTON — Taxpayers will lose about $14 billion in the government's $80 billion bailout of Chrysler and GM, the White House said Wednesday, portraying the outcome as good news since the losses are far lower than originally anticipated.
Seizing on the figures, the Obama administration took credit for the resurgence of the U.S. auto industry, assuring taxpayers that the government's bailout of Chrysler and GM was an investment worth making.
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Exactly...the Gov might have made a profit with their shares had they held them, but for a variety of reason's , mostly political, they sold them as soon as possible. I understand that 1 in 6 jobs in America are dependent upon the auto industry and that even GM's Japanese and European competitors lobbied for a "bailout" as they are also dependent on the same suppliers that also would have gone down. It was just pucking brilliant and the Feds did what every investor has known for years and the pucking Board and Management at GM were unwilling or unable to do....
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