Skip to comments.U.S. loses $1.3 billion in exiting Chrysler
Posted on 07/21/2011 11:30:55 AM PDT by Red BadgerEdited on 07/21/2011 11:35:50 AM PDT by Admin Moderator. [history]
U.S. taxpayers likely lost $1.3 billion in the government bailout of Chrysler, the Treasury Department announced Thursday.
(Excerpt) Read more at money.cnn.com ...
(Whack!)....Thank you sir, may I have another?
Somebody let Thaddeus McCotter know so he can stop lecturing us.
It is amazing how many people don't understand the time/value relationship of money...
In other words, the Obama Administration gave Fiat a sweetheart deal of $1.5 billion for Chrysler.
They’ll be asking for another bailout soon....................
Assuming they were still in business.
Oh, the price of gold is rising out of sight,
And the dollar is in sorry shape tonight.
What a dollar use to get us
Now won't get a head of lettuce,
No, the economic forecast isn't bright.
But amidst the clouds I spot a shining ray,
I begin to glimpse a new and better way.
I've devised a plan of action,
Worked it down to the last fraction,
And I'm going into action here today:
Cho: I am changing my name to Chrysler,
I am going down to Washington D.C.
I will tell some power broker,
"What you did for Iacocca
Would be perfectly acceptable to me."
I am changing my name to Chrysler,
I am leaving for that great receiving line.
When they hand a million grand out,
I'll be standing with my hand out,
Yes sir, I'll get mine.
When my creditors come screaming for their dough,
I'll be proud to tell them all where they can go.
They won't have to yell and holler,
They'll be paid to the last dollar
Where the endless streams of money seem to flow.
I'll be glad to show them all what they must do.
It's a matter of a simple form or two.
It's not just remuneration, it's a lib'ral education,
Makes you kind of glad that I'm in debt to you.
Since the first amphibian crawled out of the slime,
We've been struggling in an unrelenting climb.
We were hardly up and walking
Before money started talking,
And it's said that failure is an awful crime.
It's been that way a millenium or two;
Now it seems there is a different point of view.
If you're a corporate Titanic
And your failure is gigantic,
Down in Congress there's a safety net for you.
They never should have bailed out Chrysler in the 70s. It set a horrible precedent.
Meanwhile, New York was destroyed by a nuclear weapon and Tim Geithner said, "the mushroom cloud was really cool looking."
"With today's closing, the US government has exited its investment in Chrysler at least six years earlier than expected," Tim Massad, Treasury assistant secretary for financial stability said in a release.
Exited its investment. In other words, the gummint gave up hope.
And was left with change................
Obama promised us he would give us change, and that’s what people got.
The deficit this year alone will be 1,000 times more than that.
Like when Reagan did it with Harley Davidson?
Imposing tariffs is a different thing than lending money.