Finally a bi-partisan Shaq-Fu up we can all be proud of

berzirk

berzirk

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http://www.detroitnews.com/article/20120813/AUTO01/208130392

Washington -The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That's 15 percent higher than its previous forecast.
In a monthly report sent to Congress on Friday, the Obama administration boosted its forecast of expected losses by more than $3.3 billion to almost $25.1 billion, up from $21.7 billion in the last quarterly update.

...

Republican presidential candidate Mitt Romney has decried the losses on the auto bailout and insisted that forcing GM and Chrysler Group LLC to go through bankruptcy first would have saved taxpayers money

But President George W. Bush — who gave the automakers and their finance arms about $25 billion in his final weeks in office in bailout funds said there wasn't time.
 
So for the cost of 4 months of war in Afghanistan the government saved the auto industry in the US plus countless other businesses tied to it? Does not seem like a fuck up to me personally. There has been a lot done during the financial collapse that I disagreed with but not the saving of those companies.
 
Yeah the post by OP is total fail. A small price to pay to save American auto-makers. A drop-in-the-bucket compared to what Wall Street got.
 
Oh, so Romney is against this again?

“ My own view, by the way, was that the auto companies needed to go through bankruptcy before government help. And frankly, that’s finally what the president did. He finally took them through bankruptcy. That was the right course I argued for from the very beginning. It was the UAW and the president that delayed the idea of bankruptcy. I pushed the idea of a managed bankruptcy and finally when that was done, and help was given, the companies got back on their feet. So I’ll take a lot of credit for the fact that this industry’s come back.”
Click to expand...
 
[quote name='Feeding the Abscess']If Mitt Romney is so pissed about the auto bailout, he shouldn't have picked a VP candidate who voted for it.[/QUOTE]

Abortions for some, miniature American flags for others!
 
lolz. Oh, no... we didn't lose money on the auto bailouts... they paid everything back and then some. CAG Vs. told me so. I'm pretty sure someone here went through great lengths to explain to me how we didn't lose any money on it at alls
For the record, someone dig up the banking bailouts and compaire how much we spent vs. how much we got back on those. Still disagree with both sets though...
 
[quote name='UncleBob']lolz. Oh, no... we didn't lose money on the auto bailouts... they paid everything back and then some. CAG Vs. told me so. I'm pretty sure someone here went through great lengths to explain to me how we didn't lose any money on it at alls
For the record, someone dig up the banking bailouts and compaire how much we spent vs. how much we got back on those. Still disagree with both sets though...[/QUOTE]


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

Clicking on the individual banks/etc breaks down more info.
 
[quote name='cancerman1120']so for the cost of 4 months of war in afghanistan the government saved the auto industry in the us plus countless other businesses tied to it? Does not seem like a fuck up to me personally. There has been a lot done during the financial collapse that i disagreed with but not the saving of those companies.[/quote]
+1
 
Money well spent. I hate American cars and have never bought one, but far too many jobs tied up to that industry to have just let them go bankrupt at the height of the worst recession since the great depression.
 
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