Steal Of A Deal Feds Now Say US Only Lost 14 Billion On US Automaker Loans
Post on: 2011-08-09 By: admin
3 billion loss on its Chrysler investment,announced Thursday, the United States government has lost about $14billion on the auto industry bail-out. All in all, it was a bargain.That$14 billion figure is far less than than the $40 billion bath theCongressional Budget Office expected U.S. taxpayers to take in the totalauto industry bailout. Full 2011 Comicon Photo GalleryWaterfest 2011 Photo GallerySPIED! FIRST Look Next-Gen Ford Escape Photo Gallery2012 Audi A5 S5 Photo Gallery2011 ALMS Northeast Grand Prix Photo GalleryCars And Parades! Tribute To The Fourth Of July Photo GalleryEurocar Heaven! Best Of Rome Photo GalleryAutoSpies.com PhotoGalleriesIf you want to see your photos running onour homepage photo ticker, be sure to uploadyour photos on the go bysending them to Mobile@AutoSpies.com Share on FacebookRead Article
Honor thy error as a hidden intention.— Agent009 (View Profile)
If you exchange equity for stock (ownership), the lender can only lose money when they decide to sell, so here is the real question:Who is forcing the Treasury to sell at the beginning of an automarket recovery? Why is the Treasury determined to get out of any ownership stake in Chrysler before (if) they have an IPO? And before the haters can hate, I'd like to remind you that:1) To do nothing would have been the Herbert Hoover option, and the resulting depression from a million job losses would have likely had consequences we couldn't imagine. 1) Chrysler was paying nearly a $1 milllion dollars per day in interest on its Treasury loans.3) During the same timeframe of the US Auto "bailout" Toyota asked the EU for 40 billion Euro, (11/26/08 LeftLaneNews.com) Toyota, Honda, Nissan and Mazda all sought zero-interest loans from the Japanese Bank for International Cooperation to fund their US operations (3/6/2009 AutoBlog.com). Similar "bailout" loans were provided in Europe.— 1c3am5 (View Profile)Posted on 7/25/2011 11:38:38 AM | reply to this comment | Votes: 0
The Japs were not facing bankruptcy. Stop deluding yourself. They were simply taking advantage of the situation. Who wouldn't want zero interest loans?— eldard (View Profile)Posted on 7/26/2011 4:31:41 PM || Votes: 1
Penny change!That's only about 20 days worth of military spending.— Joe_Limon (View Profile)Posted on 7/25/2011 11:52:35 AM | reply to this comment | Votes: 4
Interesting as the article is almost opposite of the headlines.Quotes like this "Had GM and Chrysler collapsed, it would have cost the federal government about $28.6 billion in lost tax revenues and assistance to the unemployed in just the first two years alone..." and this "By the way, that $28.6 billion figure doesn't include the business taxes the federal government would have lost but can now expect from two large, profitable automakers and their suppliers. It also doesn't include any lost state and local tax revenue." put a better perspective on it.Not to mention the loss this country would have taken losing the talent and knowledge needed to produce heavy industry large scale manufacturing.We are just about down to Airliners and Defense...— valhallakey (View Profile)Posted on 7/25/2011 1:31:15 PM | reply to this comment | Votes: 4
Is it any shock that the feds can't even break even on a loan? — Agent009 (View Profile)Posted on 7/25/2011 1:34:11 PM | reply to this comment | Votes: 3
People are going about talking as though the Feds were spending their *own* money, rather than spending their *citizens'* money on their behalf.— Steve (View Profile)Posted on 7/25/2011 9:27:48 PM | reply to this comment | Votes: 2
14 billion? so in other words, someone like Warren Buffet or Bill Gates to whom 14 billion is literally pocket change couldn't help the rest of the country along and prop up the auto industry? I'm sure they could have made way more money than the government and managed all of the big 3 a lot better.The truly rich and wealthy in this country are the ones that need to step up. Sorry Bill but curing malaria in Sudan isn't exactly what the people in your own country who've made you the second richest man in the world would like to see you do. There are just as many starving and people in destitute in this country, and right now would be a good time to pay down California's deficit, which again would amount to what Bill makes in a month. Or at least make a nationwide commercial on how your personal tax rate has nothing to do with you creating jobs.— blazinboy (View Profile)Posted on 7/25/2011 10:00:53 PM | reply to this comment | Votes: 0
Bill has long since retired. He's cashing his Microsoft stock to fund his African charities. Better do it now before the prices tank. lol— eldard (View Profile)Posted on 7/26/2011 4:37:58 PM || Votes: 1
And yeah, coz it's Bill's responsibility to pay for the stupidity of Californians.— eldard (View Profile)Posted on 7/26/2011 4:38:51 PM || Votes: 1
Why do we have to have stupid articles like this? 009 and the Republicans want to see the end of this nation and it's greatness. so sick of useless articles (with poor headlines) like this one. To whom it may concern this guy 009 is doing more harm to your traffic than good.— uaw_lax (View Profile)Posted on 7/25/2011 10:49:13 PM | reply to this comment | Votes: 2
Odd, it was a Republican "Bush" that instigated the saving of the failed Detroit.So STFU you UAW troll.I know it sucks for you that is one station of cable the will expose your corruption, and websites expose UAW corruption.So sit back and TAKE IT.Your UAW propaganda doesn't work here.— autospies2 (View Profile)Posted on 7/25/2011 11:42:43 PM || Votes: -1
Some people just dont get it! This country needs JOBS JOBS JOBS JOBS and more JOBS! — Escalade1 (View Profile)Posted on 7/26/2011 8:35:14 AM || Votes: 1
Doesn't matter. The East is gonna outbid you on every resource on the planet, anyway. Better start using your bicycles, you American fatties! lolz— eldard (View Profile)Posted on 7/26/2011 4:41:21 PM || Votes: 1
@ autospies2 Apparently you have no clue what the word propaganda means. Guess you heard it on fox news. yes Bush had helped GM/Chrysler a little but it took the next president weeks to get things done because of stupid republicans like dan corker, and mit rommney that wanted to just give up on jobs and American manufacturing for political reasons. They call these guys leaders? Look where the Big3 are now so you STFU.— uaw_lax (View Profile)Posted on 7/26/2011 8:32:44 AM | reply to this comment | Votes: 3
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