Tell The Truth, Was It A Loan Or A Gift? Feds Revise Bailout Losses Upwards..Again

The Treasury Department has raised the government's estimate of taxpayer losses due to the auto bailout by more than $400 million to $14.33 billion.

Earlier this summer, the Treasury had pared its loss estimate to $13.91 billion on its $85 billion bailout of General Motors Co., Chrysler Group LLC and auto finance companies.

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quizz - 8/17/2011 10:34:52 PM

+6 Boost

Is anybody "repaying" the taxpayers for the stupid "cash for clunkers" program? That was an outright gift.

topneuro - 8/17/2011 6:23:08 PM

+1 Boost

It was sold as a loan, it is a tax payer bailout but the auto industry is not the only one.

http://www.propublica.org/special/government-bailouts

g2ok - 8/17/2011 6:37:06 PM

+1 Boost

It's a bailout disguised as a loan. The CARS program was just plain fraud. The thinking was that this is just similar to the cost of 2 weeks worth of the war, so what's the big deal anyway, at least this is spent at home. Remember...

topneuro - 8/17/2011 6:42:00 PM

+1 Boost

"It's good to be the king." - King Louis XVI (Mel Brooks)
History of the World, Part I (1981)
"It's good to be a bank." - any banker
History of the World, Part II (2011)

http://projects.propublica.org/bailout/list/index

PUGPROUD - 8/18/2011 7:49:05 AM

+7 Boost

It was an effort to buy union votes...pure and simple.

mini22 - 8/18/2011 7:52:54 PM

+1 Boost

What about AIG. How much money is still out to them. In the sceme of things 14.33 billion is "chump change".