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Chrysler Lenders Must Reveal Identities Today, Judge Rules
"HK" wrote in message m... Tom Francis - SWSports wrote: The American taxpayer will get nothing for the billions of dollars showered on Chrysler from which the UAW and FIAT will benefit the most. Obama's administration said just yesterday that the $8 billion in “bridge loans” the U.S. taxpayer has given to Chrysler over the past six months, including $4 billion in bankruptcy financing, won’t be paid back. Taxpayers also won’t be getting a big slug of Chrysler stock in exchange. http://money.cnn.com/2009/05/05/news...oans/index.htm Chrysler will be divided up among Fiat, Chrysler’s unions, and Chrysler’s debtholders. Which means that the taxpayers’ $8 billion was a gift to these three consitituencies. I wonder whether the Obama administration will explain its “gift” to the saps who paid for it. I’d say that the explanation is obvious. The White House wanted to pay off the UAW and used the shell of Chrysler to do it. How do you like your boy now? If you mean Obama, just fine. I think it entirely appropriate for the government to take steps, including blowing if necessary some billions of dollars to try to save a significant U.S. industry. Problem is, Chrysler was DOA. Has been for years. Chrysler knew that. Daimler knew that. The financial group that bought it from Dampier knew that. It should have been allowed to go to Chapter 11 or 7 peacefully and not have cost another $8B. Tom's is right. The taxpayer can kiss 8 billion away for an eventuality that would have been exactly the same for nothing. Here's another good one ..... Bank of America: http://finance.yahoo.com/tech-ticker/article/242096/Stress-Test-Shocker-BofA-Needs-34B-But-That%27s-%22Good-News%22-for-Ken-Lewis-&-Co.?tickers=BAC,C,XLF,SKF,FAS,FAZ,^DJI Good thing those printing presses are humming. Eisboch |
#2
posted to rec.boats
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Chrysler Lenders Must Reveal Identities Today, Judge Rules
Eisboch wrote:
"HK" wrote in message m... Tom Francis - SWSports wrote: The American taxpayer will get nothing for the billions of dollars showered on Chrysler from which the UAW and FIAT will benefit the most. Obama's administration said just yesterday that the $8 billion in “bridge loans” the U.S. taxpayer has given to Chrysler over the past six months, including $4 billion in bankruptcy financing, won’t be paid back. Taxpayers also won’t be getting a big slug of Chrysler stock in exchange. http://money.cnn.com/2009/05/05/news...oans/index.htm Chrysler will be divided up among Fiat, Chrysler’s unions, and Chrysler’s debtholders. Which means that the taxpayers’ $8 billion was a gift to these three consitituencies. I wonder whether the Obama administration will explain its “gift” to the saps who paid for it. I’d say that the explanation is obvious. The White House wanted to pay off the UAW and used the shell of Chrysler to do it. How do you like your boy now? If you mean Obama, just fine. I think it entirely appropriate for the government to take steps, including blowing if necessary some billions of dollars to try to save a significant U.S. industry. Problem is, Chrysler was DOA. Has been for years. Chrysler knew that. Daimler knew that. The financial group that bought it from Dampier knew that. It should have been allowed to go to Chapter 11 or 7 peacefully and not have cost another $8B. Tom's is right. The taxpayer can kiss 8 billion away for an eventuality that would have been exactly the same for nothing. Here's another good one .... Bank of America: http://finance.yahoo.com/tech-ticker/article/242096/Stress-Test-Shocker-BofA-Needs-34B-But-That%27s-%22Good-News%22-for-Ken-Lewis-&-Co.?tickers=BAC,C,XLF,SKF,FAS,FAZ,^DJI Good thing those printing presses are humming. Eisboch Thanks to bush, the taxpayers are throwing away TWO TRILLION DOLLARS on Iraq. Old Tom didn't object to that waste of money. |
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