hypocritexposer
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It’s Official: Taxpayers Will Lose Tens of Billions on Chrysler, GM Bailout
by admin
in Blog
A Congressional oversight panel warns taxpayers are facing huge losses on the government’s $81 billion auto industry bailout. Elizabeth Warren, the panel’s chair, discusses the findings.
* The report said that a $5.4 billion portion of the $10.5 billion owed by Chrysler is “highly unlikely” to be repaid.
* Full recovery of the $50 billion sunk into GM would require the company’s stock to reach unprecedented heights.
* The report also recommended that the Treasury Department provide a legal analysis justifying the use of financial rescue funds for the automakers.
* In all, the government has invested $74 billion in the nation’s auto industry.
http://www.cardealerreviews.org/?p=118302
Taxpayers will lose on auto bailouts
http://money.cnn.com/2009/09/09/autos/cop_auto_report/?postversion=2009090903