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Thread: Chrysler Bail-Out: $1.3 Billion Loss

  1. #1
    Senior Member Gerry Clinchy's Avatar
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    Default Chrysler Bail-Out: $1.3 Billion Loss

    http://www.foxnews.com/politics/2011...er-investment/

    Treasury provided a total of $12.5 billion to Chrysler and its financing arm after the recession hampered auto sales and sent Chrysler and General Motors to the brink of collapse. The funds came from the government's $700 billion [COLOR=blue! important][COLOR=blue! important]bank[/COLOR][/COLOR] bailout fund.

    Since then, $11.2 billion of the assistance has been repaid, Treasury said. Chrysler repaid $5.1 billion in loans from the government in May. But the $1.3 billion remaining is unlikely to be recovered, Treasury said.
    The purchase of the government's stake gives Fiat 52 percent ownership of Chrysler. That's likely to rise to 57 percent before the end of the year when Chrysler begins producing a 40 mpg small car in the U.S.

    Fiat received a 20 percent stake in Chrysler after the bankruptcy in exchange for [COLOR=blue! important][COLOR=blue! important]management[/COLOR][/COLOR] expertise and technology. The Italian automaker has gradually raised its stake by meeting benchmarks set by the government.
    Taxpayer money was used to "give" an Italian company a controlling interest in a US auto maker?
    G.Clinchy@gmail.com
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    Senior Member huntinman's Avatar
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    It really says something that this does not even make anyone raise their eyebrows anymore. Obama has done so much unbelivable stuff to this country since being elected that we are starting to get used to it. We have got to get him out of the oval ofice in 2012.
    Bill Davis

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    Senior Member Franco's Avatar
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    Prior to Fiat, which also mfg's Farrari and Masaratti purchased Chrysler Corp out of bankruptcy, it was owned by Damlier Benz. Last time I checked, they were a Germany company.

    Y'all heard of Mercedes Benz, haven't ya? Favorite ride of the SS
    Collecting more taxes than is absolutely necessary is legalized robbery. Calvin Coolidge



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    Senior Member huntinman's Avatar
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    Quote Originally Posted by Franco View Post
    Prior to Fiat, which also mfg's Farrari and Masaratti purchased Chrysler Corp out of bankruptcy, it was owned by Damlier Benz. Last time I checked, they were a Germany company.

    Y'all heard of Mercedes Benz, haven't ya? Favorite ride of the SS
    yes, but they bought it with their own damn money. Obama and his minions pretty much gave Chrysler away and we are paying for a long time to come for what he did.
    Bill Davis

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    Senior Member Franco's Avatar
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    A 1.3 billion loss/expense for keeping the plants operating in the US and the jobs created by those businesses that support the industry is a bargain. No telling how much tax payer money would be going to unemployment benefits.

    What is criminal is the 35 billion still owed by Government Motors. Tax payers owning stock in a company controlled by the UAW is a losing proposition. Not to mention the illegal theft from GM stockholders during the government takeover.
    Last edited by Franco; 07-22-2011 at 09:25 AM.
    Collecting more taxes than is absolutely necessary is legalized robbery. Calvin Coolidge



  6. #6
    Senior Member luvmylabs23139's Avatar
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    The secured bond holders of Chrysler were screwed by Bumma and his henchmen.
    1.3 billion is not all that the american public lost. Many of those SECURED bonds were owned by pension funds etc. That socialist stole from the bondholders and gave to his UNION buddies. Redistribution at its finest.
    Impeach the bum now!
    Hihope Hiland Heathen of Perth CD, RE, CGC, TDI

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    Senior Member dback's Avatar
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    Quote Originally Posted by Franco View Post
    Not to mention the illegal theft from GM stockholders during the government takeover.
    I be one of them.......I'm dehydrated from trying to spit on every new GM I see while walking through parking lots.
    "What a difference a week makes. This week I feel like a football coach. Last week I felt like Britney Spears' choreographer."
    Coach Bob Green, Montana Tech

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    Senior Member Hew's Avatar
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    Quote Originally Posted by Franco View Post
    A 1.3 billion loss/expense for keeping the plants operating in the US and the jobs created by those businesses that support the industry is a bargain. No telling how much tax payer money would be going to unemployment benefits.
    You couldn't see it, but I just did a Jerry Lewis pratfall after reading this.
    "Hey Laaaaaaaaady!!!!!!!" indeed.

    Is this neo-Libertarianism? Because I'm not familiar with any form of Libertarianism that would be even slighly accepting of the govt. interceeding with Chrysler...no matter whether they made 1.3 billion or lost 1.3 billion.
    I'll take the river down to still water and ride a pack of dogs.

  9. #9
    Senior Member huntinman's Avatar
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    Quote Originally Posted by Hew View Post
    You couldn't see it, but I just did a Jerry Lewis pratfall after reading this.
    "Hey Laaaaaaaaady!!!!!!!" indeed.

    Is this neo-Libertarianism? Because I'm not familiar with any form of Libertarianism that would be even slighly accepting of the govt. interceeding with Chrysler...no matter whether they made 1.3 billion or lost 1.3 billion.
    Franco is a lot like DNF777, he claims to be one thing...but his words tell us what he really believes. All that weed has fried some brain cells
    Bill Davis

  10. #10
    Senior Member huntinman's Avatar
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    Quote Originally Posted by dback View Post
    I be one of them.......I'm dehydrated from trying to spit on every new GM I see while walking through parking lots.
    Me too... sold my wifes Cadillac and we bought her a Ford Explorer! No more Government Motors for us. I already had a Ford truck.
    Bill Davis

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