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  1. #1 Hold on a cotton picking second... 
    Senior Member Bailey's Avatar
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    http://www.detroitnews.com/article/2...TO01/208130392


    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.
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  2. #2  
    Senior Member Madisonian's Avatar
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    Quote Originally Posted by Bailey View Post
    http://www.detroitnews.com/article/2...TO01/208130392


    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.
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  3. #3  
    Senior Member Zeus's Avatar
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    This is the type of "Success" Obama wants to force on other industries.
    The 21st century. The age of Smart phones and Stupid people.

    It is said that branches draw their life from the vine. Each is separate yet all are one as they share one life giving stem . The Bible tells us we are called to a similar union in life, our lives with the life of God. We are incorporated into him; made sharers in his life. Apart from this union we can do nothing.
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  4. #4  
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    Quote Originally Posted by Zeus View Post
    This is the type of "Success" Obama wants to force on other industries.
    This is why this bozo needs to be removed from office.
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  5. #5  
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    Quote Originally Posted by Hubie View Post
    This is why this bozo needs to be removed from office.
    One of a thousand reasons.
    Education without values, as useful as it is, seems rather to make man a more clever devil.
    C. S. Lewis
    Do not ever say that the desire to "do good" by force is a good motive. Neither power-lust nor stupidity are good motives. (Are you listening Barry)?:mad:
    Ayn Rand
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  6. #6  
    Senior Member Zathras's Avatar
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    Quote Originally Posted by AmPat View Post
    One of a thousand reasons.
    Just a thousand? I can think of 5 trillion reasons to remove this blight on America from office.
    Solve a man's problem with violence and help him for a day. Teach a man how to solve his problems with violence, help him for a lifetime - Belkar Bitterleaf
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  7. #7  
    Senior Member Zeus's Avatar
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    The only US automaker to be operating at a profit is also the only US Automaker to not take any Bailout money.
    The 21st century. The age of Smart phones and Stupid people.

    It is said that branches draw their life from the vine. Each is separate yet all are one as they share one life giving stem . The Bible tells us we are called to a similar union in life, our lives with the life of God. We are incorporated into him; made sharers in his life. Apart from this union we can do nothing.
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  8. #8  
    Senior Member Unreconstructed Reb's Avatar
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    But, at least the union thugs are happy! Shouldn't that count for something?!?



    "The beauty of the Second Amendment is that you won't need it until they try to take it away."---Thomas Jefferson

    ΜΟΛΩΝ ΛΑΒΕ
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  9. #9  
    Senior Member Gina's Avatar
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    That's 15 percent higher than its previous forecast.
    The govt predicted something wrongly? No way!

    Good men sleep peaceably in their beds at night because
    rough men stand ready to do violence on their behalf.



    Real superheroes don't wear capes. They wear dog tags.
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  10. #10  
    Power CUer noonwitch's Avatar
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    Quote Originally Posted by Zeus View Post
    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".
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