|This thread has been locked, it will not receive new replies.|
|Locked on 05/05/2009 3:46:37 PM PDT by Admin Moderator, reason:|
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 ...
A 7 billion taxpayer dollar UAW payoff.
Those three crooks need a taste of pitch fork!!!
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.