Feds Says They Will "Only" Lose $16 Billion On Automotive Bailout

Of the $80 billion invested in General Motors Co., Chrysler Group LLC, Ally Financial Inc. and Chrysler Financial, $40 billion has been recovered.

"While the government does not anticipate recovering all of the funds that it invested in the industry, the Treasury's loss estimates have consistently improved - from more than 60 percent in 2009 to less than 20 percent today," the White House said in a report released today.

Agent009 - 6/1/2011 2:25:11 PM

+3 Boost

In all fairness Bush led that parade...

HSCenterconsole - 6/1/2011 1:38:43 PM

+3 Boost

You definitely know you are talking about government (and government waste) when ONLY losing $14 to $16 billion is a good thing.

AdmiralT20 - 6/1/2011 2:37:30 PM

0 Boost

Nowhere in that article was the word "only" ever used.
Agent009 just sinking to a new low.

AdmiralT20 - 6/1/2011 2:29:27 PM

-2 Boost

Agent009 always the sensationalist and political hack.
I have read the article and nowhere is the sentence alluding the title as you are making it to be.
The administration never use the adverb "only", and nowhere in that article was the word "only" ever used but you as usual will maximise whatever it is that your intentions are- and I know they don't mean well the big 3.
Agent009,
You sir are a farce, plain and simple.

Agent009 - 6/1/2011 3:01:27 PM

+2 Boost

To the Feds 16 billion is chump change, my point stands at "only".

mini22 - 6/1/2011 4:22:10 PM

-1 Boost

Compared to AIG that was too big to fail and the amount of money the Feds pumped into it "only" and 16 billion is "chump change"and I think valid in this case.

AdmiralT20 - 6/1/2011 5:43:07 PM

+3 Boost

Then Agent009 should not have phrased it the way he did, he was definitely connoting "only" in a non-flattering sense.

AdmiralT20 - 6/1/2011 4:36:27 PM

+3 Boost

Agent009,

Your point fails because you are deliberately misconstruing the article to promote your political bias.
Your point of this point was paint this administration as wasteful.
Your point lack intellectual honesty- I doubt if you understand what that means.

nguyenvuminh - 6/1/2011 9:45:59 PM

+2 Boost

Hehehehe, 009 got caught with misleading the reader. Come on man, fess up. Don't worry, the Republican party won't disown you if you fess up.

SoapyJohnson - 6/1/2011 10:54:45 PM

+1 Boost

NASCAR pulls the plug on inaugural Chevrolet Volt 400. More GM woes, the story can finally be told ... http://placeitonluckydan.com/2011/05/nascar-pulls-plug-on-chevrolet-volt-400/

uaw_lax - 6/2/2011 12:47:39 AM

-1 Boost

no one cares.......

WorldofLuxury - 6/2/2011 4:54:41 AM

+1 Boost

They should learn to be frugal. Sigh... sometimes, I just want them to get things done.

PeteP - 6/3/2011 12:18:59 AM

+2 Boost

If the U.S. auto industry was left to fail, the government would have lost significantly more than $16 Billion in lost tax revenue, unemployment insurance payments, etc. The bank bailouts have been almost fully repaid and so have the auto bailouts. Basically, this was just a loan program. Get over it teabaggers. The economy would be dust if these programs were not implemented.

LauderdaleDriver - 6/3/2011 12:52:30 AM

+1 Boost

Exactly, Pete. Uncle Sam would have been on the hook for GM pensions and health insurance (Deftly dumped on the UAW) and also for years of unemployment benefits for a couple hundred thousand who work for GM and its suppliers.
The current accounting doesn't seem to include the taxes paid by GM workers over the next few years-especially the high-value jobs in engineering, banking, and marketing......