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more about #autobailout more comments → danio3834: Really, I don't understand how your currency still holds any value. I know that if I flooded the market with a commodity that i GAVE away, it'd becom... more » pinkshinyalan is kind of brown: The entire point of the TARP program (from which this auto bailout money was taken) was not to invest it. TARP was set up to un-fuck our banking syst... more » engineerd: Will people believe me now when I say, "Governments give bailouts, banks give loans." 'Cause very few of my friends in Detroit believed me when I sai... more » TimTim: I viewed this like I view Social Security (and pretty much every other tax funded program): I know it's going to cost me and I don't expect anything i... more » FTGDWolverineEdition'09: Flush! more » Flathead Smith: The forced handover of GM to the unions was a payoff by the administration to the unions for their support in the past, present and future. The suspen... more » lilwillie: No shit, next they will tell us the Sun rises in the East. more » JeepyJayhawk: Can I stop paying taxes now? more » Cognitive Friction: From the AP article: "We are not trying to be Warren Buffett here. We are not trying to squeeze every last dollar out," Steve Rattner, who led the ad... more » UnlimitedRevs: And GM and Chrysler went laughing...all the way to the bank, hee hee, ha ha, ho ho, hmm hmm... more » AmishJohn: Please. Who didn't see this like loaning money to your brother-in-law? You know, the 35-year old one who still lives with the folks... more » PowerTryp, Starless wonder.: This is for all of you people that voted for Obama. All of you want change, well change costs money and when you've just entered an economic decline t... more » tekamul: :Not Pictured: Fritz Henderson holding a big bag of money and listening to an R. Kelly CD more » DoctorNine: Whataya know... actually a good idea. more » Tanshanomi: I, for one, welcome our new Federal pound-Wagner-in-the-ass overlord. more » -
#carpocalypse
Taxpayers Likely To Get Hosed In Auto Bailout
Remember the $23 billion in "loans" the federal government handed over to GM and Chrysler? The government wants you to know you're probably not going to get all of it back. Act surprised. [AP via Twitter, Photo: Al Bello/Getty] -
#carpocalypsenow
White House Loan Deal For Not-So-Big Three Is "Bankruptcy Lite"
The bailout loan's no longer just a $15 billion bridge loan for the not-so-Big Three to make it until the Obama administration, it's actually "bankruptcy lite." It's also a really good idea.
