Chrysler Poised To Suck In An Additional 10 Billion In Taxpayer Dollars

Chrysler, the once-bankrupt U.S. automaker that received billions in government aid last year, will soon get new federal loans to help retool factories to make more fuel efficient vehicles, according to sources familiar with the matter.

The timing of the Energy Department award to Chrysler is fluid, but sources with knowledge of the financing and the industry say the automaker will likely receive approval for new credit before General Motors Co GM.UL.

GM is in the midst of preparing a initial public offering for mid-November, and cannot take on the government awards without complicating its IPO.

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mpwr - 10/27/2010 11:24:34 AM

+2 Boost

Chrysler needs to become relevant quickly and Fiat should be pushing this to the forefront

Joe_Limon - 10/27/2010 11:39:24 AM

+1 Boost

There are worse things to talk about

*cough cough*

http://img168.imageshack.us/img168/4117/usbudgetpie08.gif

truckman - 10/27/2010 11:41:59 AM

+4 Boost

Anytime the privately run Federal reserve starts to print more money we are all in trouble globally, the financial guru predicted the 2nd crash will be worse than the 1st. Throwing money you don't have will not make it better, they never got it the first time, how many more times can we do this? lets hope they never bail the banks out again, don't let them! And if they do get bailed out give the $$ to the people that own the money, not the banks.

Agent009 - 10/27/2010 12:41:50 PM

+3 Boost

It is called budgeting for beginners and feds haven't read it.

LexSucks - 10/27/2010 4:42:53 PM

-2 Boost

Didn't spending end the depression of the 1930s?

internationalmanofmystery - 10/27/2010 2:47:35 PM

+3 Boost

Just 10 billion?? Come on! Take more!! Take it! I have it and you "need" it...take 20 billion! ...30. Come on, you can pay me back later. We are friends, right???

Steve - 10/27/2010 8:35:32 PM

+3 Boost

Those government folks need to learn that if you blow a billion here, and a billion there, eventually it adds up to real money.

wakeboard2174 - 10/28/2010 2:44:37 PM

+3 Boost

Wow, Our government seems to love to piss away money. Why are we paying for a private company to do what they are supposed to do. Supply product and test it. Not at the expense of the taxpayers. If they can't do it on their own, let them shut down or restructure. I'm quite sure if that took place, the money trail would thin out quite a bit in the executive sector. It's funny how these CEO's make piss loads of cash, yet it's all the people under them that make the company succeed. The distribution process of money in these companies is ran like our government right now. All going into their pockets and enjoying themselves on the taxpayers dime

truckman - 10/30/2010 4:24:15 AM

0 Boost

I agree, there is a lot of corruption! It would take a bullet proof president to stop this, someone like JFK, Obamma may be a nice guy and all but it is clear that he wants to live, he is playing ball well, there is no difference between the Republicans and the Democrats, America needs Ron Paul! Then Ron Paul needs a swat team 24x7, then America will flourish once again, that is once America puts $$ INTO EDUCATING all of there people, ignorance breeds ignorance, that is how the present people run America now.