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Skip to comments.Chrysler won't repay bailout money
Posted on 05/05/2009 3:20:38 PM PDT by jimbo123
Chrysler LLC will not repay U.S. taxpayers more than $7 billion in bailout money it received earlier this year and as part of its bankruptcy filing.
This revelation was buried within Chrysler's bankruptcy filings last week and confirmed by the Obama administration Tuesday. The filings included a list of business assumptions from one of the company's key financial advisors in the bankruptcy case.
Some of the main assumptions listed by Robert Manzo of Capstone Advisory Group were that the Treasury would forgive a $4 billion bridge loan given to Chrysler in the closing days of the Bush administration, a $300 million fee on that loan, and the $3.2 billion in financing approved last week by the Obama administration to fund Chrysler's operations during bankruptcy.
(Excerpt) Read more at money.cnn.com ...
What a shocker. Just when I thought the day couldn’t get more
Since the Taxpayers are the largest creditors we should sue to get our money back.
I’m shocked— zero said it would all be repaid. You mean we can’t trust zero?
Yes just shocked I tell ya!
zerO wouldn't take the dough back if it were offered, just like the banks.
The clown's a real work.
Taxpayer’s money...........gone. Forever gone. FUBO.
But Paulson, Bernanke, and Gleithner all promised we’d get that money back....
I wonder if there is a way we could sue Chrysler to get our money back. I don't remember signing anything allowing my hard earned money to go to these people.
Oh, never mind. I forgot contracts don't mean anything anymore.
Did anyone expect any different?
A billion here, a billion there. pretty soon this will add up to real money.
~53 million voters probably did, the operative word being probably.
“Taxpayers money...........gone. Forever gone. FUBO”
Tax money is gone as soon as the government takes it.
It just chafes the Democrats raw that Americans have the right to own and operate businesses for their own pure profit. It infuriates them that Americans can control their own economic circumstances and destiny. The accretion of dictatorial power and control over the lives and actions of the American people through economic means is what the Obama regime and its Democrat Party is all about.
I read somewhere that we’re shelling out, like, $314,000 per employee to the UAW. Wouldn’t it be more economical to give them the money directly, shut down the plants, and let them live off the fat of the interest?
Or is that too honest? Yeah, better to pretend as if there’s a market for cars made by Dodd, Waxman, and Obama.
May this worthless welfare queen of a company crash and burn.
Why didn’t they simply let Chrysler go bankrupt, without giving them Federal dollars. Oh, I know, so Obama could get his big mitts around Chrysler. After all, the Administration knows so much better than the rest of us what should be done.
69+ million voters probably didn't
Those 53 million voters don’t have the first clue as to what just happened. And they don’t care. They’re just enthralled with their toothy President.
This is like finding out that the wino on the corner you gave $10 bucks won't pay you back.
Unless he decides to pee on your doorstep with the end product of the $10 bucks.