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Bailey
08-13-2012, 03:08 PM
http://www.detroitnews.com/article/20120813/AUTO01/208130392


Treasury: U.S. to lose $25 billion on auto bailout

By David Shepardson
Detroit News Washington Bureau
55 Comments
Washington -The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That's 15 percent higher than its previous forecast.

In a monthly report sent to Congress on Friday, the Obama administration boosted its forecast of expected losses by more than $3.3 billion to almost $25.1 billion, up from $21.7 billion in the last quarterly update.

The report may still underestimate the losses. The report covers predicted losses through May 31, when GM's stock price was $22.20 a share.



Wait a second I thought we got every dime back from them? why didnt we let them go thought bankruptcy court.

Madisonian
08-13-2012, 04:35 PM
http://www.detroitnews.com/article/20120813/AUTO01/208130392


Treasury: U.S. to lose $25 billion on auto bailout

By David Shepardson
Detroit News Washington Bureau
55 Comments
Washington -The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That's 15 percent higher than its previous forecast.

In a monthly report sent to Congress on Friday, the Obama administration boosted its forecast of expected losses by more than $3.3 billion to almost $25.1 billion, up from $21.7 billion in the last quarterly update.

The report may still underestimate the losses. The report covers predicted losses through May 31, when GM's stock price was $22.20 a share.



Wait a second I thought we got every dime back from them? why didnt we let them go thought bankruptcy court.

And that does not count the amount of taxpayer money spent on buying thousands of Chevy Volts and other GM vehicles that we probably overpaid for to boost their sales.

ETA: Closed at 20.47 today, so tack on another 8% in losses.
He can always try to make it back by investing in Facebook.

Zeus
08-13-2012, 05:32 PM
This is the type of "Success" Obama wants to force on other industries. :frown-new::frown-new::frown-new:

Hubie
08-13-2012, 05:48 PM
This is the type of "Success" Obama wants to force on other industries. :frown-new::frown-new::frown-new:

This is why this bozo needs to be removed from office.

AmPat
08-14-2012, 09:22 AM
This is why this bozo needs to be removed from office.
One of a thousand reasons.

Zathras
08-14-2012, 11:44 AM
One of a thousand reasons.

Just a thousand? I can think of 5 trillion reasons to remove this blight on America from office.

Zeus
08-14-2012, 11:47 AM
The only US automaker to be operating at a profit is also the only US Automaker to not take any Bailout money.

Unreconstructed Reb
08-14-2012, 12:09 PM
But, at least the union thugs are happy! Shouldn't that count for something?!?



:sarcasm:

Gina
08-14-2012, 12:41 PM
That's 15 percent higher than its previous forecast.
The govt predicted something wrongly? No way!

:rolleyes:

noonwitch
08-14-2012, 02:29 PM
The only US automaker to be operating at a profit is also the only US Automaker to not take any Bailout money.


Ford asked for the bailout of the other two, though, because they feared that companies that supply materials to all three would go bankrupt.


I shudder to think where my state would be if the Obama administration had fabiled to bailout GM. I think Chrysler, which Reagan bailed out in the 80s, should have been told
"we bailed you out once".

Zeus
08-14-2012, 03:48 PM
Ford asked for the bailout of the other two, though, because they feared that companies that supply materials to all three would go bankrupt.


I shudder to think where my state would be if the Obama administration had fabiled to bailout GM. I think Chrysler, which Reagan bailed out in the 80s, should have been told
"we bailed you out once".

Chrysler under Lee Iacocca also paid back every penny of the guaranteed Loan with interest.