Congressional report slams auto bailout - - 5th Generation Camaro Enthusiasts
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post #1 of 5 Old 01-13-2011, 08:50 AM Thread Starter
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Congressional report slams auto bailout

A report released in Washington on Wednesday questions the government's handling of its $85B auto bailout, claiming taxpayers lost $600M when the Treasury sold its interest in Chrysler Financial.

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post #2 of 5 Old 01-13-2011, 09:08 AM
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I was against the bailout.. Still believe it was the wrong thing to do..

With that being said, I AM glad I have a 2011 Camaro.
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post #3 of 5 Old 01-13-2011, 11:50 AM
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When you consider all of the manufacturing jobs that were kept, and all of the ancillary small buisnesses that were kept afloat, you have to be crazy to think that it was a bad idea. Most of the money has been paid back by GM and Chrysler is talking about making a huge payment by the end of the year. At least we are getting something for our money. And... we are getting our money back. Not the same from our banking community.
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post #4 of 5 Old 01-13-2011, 12:13 PM
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At least they will recover some of the money back with stocks. Most of the government programs just make money disapear and never return.

sicker than most.
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post #5 of 5 Old 01-15-2011, 12:14 PM
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The bailout was a necessary thing. GM will pay back what they borrowed. It may take a while but they know that they need to restore faith in their company. I think the IPO came out a bit too early and some of congress is upset that the price went up over $6 a share a few weeks later and that is the rub.

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