Posted on 06/03/2011 9:44:37 AM PDT by Nachum
It is not every day that the White House and Democratic National Committee celebrate a supposedly private company’s debt restructuring plan, but such is the marriage of big government and big business under the Obama administration. The New York Times reports: “Chrysler said Tuesday that it had paid back $7.6 billion in loans from the American and Canadian governments, marking another significant step in the revival of the company, the smallest of the Detroit automakers.”
But as The Truth About Cars reports, the loan pay back is just another Obama con job:
Back in November of 2009, when GM announced that it would repay its government loans, it didn’t take much investigation to realize that The General was simply shuffling government money from one pocket to the other and that true “payback” was still a ways off. … And now that our government finds itself “contemplating a runaway deficit and getting rid of its 8 percent of Chrysler’s equity,” would you believe that a similar federal money-shuffle is under way? Believe it.
American taxpayers have already spent more than $13 billion bailing out Chrysler. The Obama administration already forgave more than $4 billion of that debt when the company filed for bankruptcy in 2009. Taxpayers are never getting that money back. But how is Chrysler now paying off the rest of the $7.6 billion they owe the Treasury Department?
(Excerpt) Read more at washingtonexaminer.com ...
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I wish that someone would just get out there and incessantly broadcast the truth; the taxpayer is NEVER paid back. We will never get back the money they are stealing from us. Money will be transferred back to the democrat administration and diverted through a money-laundering machine to the democrat party. This is nothing but slight of hand and always will be.
Bump.
As a taxpayer/owner I am owed a 2012 Corvette ZR-1 from GM and a 2012 Dodge Challenger 392 SRT8 from Chrysler. Both in black please.
I could get behind that idea although I would rather have the money to go out and buy a Ford.
“Round and round she goes. Where she stops? Nobody knows.”
“Round and round she goes. Where she stops? Nobody knows.”
“I could get behind that idea although I would rather have the money to go out and buy a Ford.”
I could go along with that also if it was a 2012 Ford Shelby GT500.
Lil Timmy Geithner is already playing loosey-goosey games with the sale of US-owned shares in GM, which were supposed to be sold this summer, but won’t be because GM’s stock price has tanked.
I’ve never been that big into muscle cars or hot chick magnets. I have always seen my vehicle as a utility so a nice heavy-duty Ford truck would be great. Even a mid-sized Ford car that is reliable and gets me where I need to go is fine too. I’ve never had the time, money, or inclination for shiny bling cars but if that’s somebody’s thing then I support it wholeheartedly and say go for it.
The new Shelby GT 350 is very close in performance to the GT500, with it’s new supercharged 5.0 engine
I traded my ‘03 Cobra for an ‘03 Mach 1 with an automatic transmission. The IRS was clunking on the Cobra and I need something that was better for bracket racing. I got an ‘07 Mustang GT with a stick after the local dragstrip closed and ended my racing days.
Used to have a 5.0L Mustang with a 5-sp. Missed it a lot. So much so, that in 2010 I bought a 2010 RT Challenger 5.7L with the 6-sp. Great car!
While it pains me to see the Chrysler/Fiat thing happen(ing), I love my Challenger and don’t really think about the Government’s involvement in this car company when I’m chirping the tires going into 4th gear at 5600 rpms. 8-)
Somebody sent me an e-mail with pictures of hundreds of GM trucks stored near a crossing BC station. No way the BC could ever use that many new trucks. It’s clear that the gov. bought the trucks and hid them at the border to boost GM’s sales. Robbed Peter to pay Paul again. Wish I could find those pictures.
Monster '68 HemiCuda & HemiDart SS/AH cars racing at the US Nationals with FIAT logos on the windshield...just f'ing wonderful.
The bailouts of GM and Chrysler were set up not to help the auto companies but to help the unions and to buy votes for 2012. The unions made out with loads of taxpayer dollars and stakes in the companies that they had no business getting — at the expense of the bondholders.
BOTTOM LINE: The bailouts were simply a means to launder taxpayer money back to the DNC.
They kind of messed up the styling on the latest S197 Mustang platform. I like the ‘67 style rear fender hump, but the “pinched” down front and rear lights look silly.
I had a ‘69 Camaro back in the 70’s. The new Camaro still does not have the styling right for me, either.
The Challenger is by far the best looking new Detroit musclecar.
My experience with the ‘03 Cobra makes me leery of the IRS in the Challenger and Camaro, but I’m sure it’s much better than what the 03-04 Cobra had. This keeps me on the newer Mustang, as it still has the “live” axle more suited for dragstrip use.
I’m keeping my eye out for an 05-09 Mustang GT with a bad engine. Ford is selling the brand new 5.0 as a crate motor, and there are a number of superchargers available.
“So, to recap, the Obama Energy Department is loaning a foreign car company $3.5 billion so that it can pay the Treasury Department $7.6 billion even though American taxpayers spent $13 billion to save an American car company that is currently only worth $5 billion.
Oh, and Obama plans to make this “success” a centerpiece of his 2012 campaign.
Read more at the Washington Examiner: http://washingtonexaminer.com/blogs/beltway-confidential/2011/05/truth-behind-chrysler-s-fake-auto-bailout-pay-back#ixzz1OGuET9GM";
TH - TH - TH - THAT’S ALL FOLKS! .......................... FRegards
Me too. Then I will resell them and continue driving my 2010 GT.....and buy a 2012 Shelby GT500... :-)
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