📰 Auto News Chrysler won’t repay $3.7 billion TARP loan
- Thread starter Mook
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It seems GM is going to pay back theirs though 
http://www.msnbc.msn.com/id/34429910/ns/business-autos/
http://www.msnbc.msn.com/id/34429910/ns/business-autos/
Yeah no kidding, this shit pisses me off. The 'great' investment that just lost the gov't $3.7 billion went towards a company that scored last place for predicted reliability for 2010. Its a slap in the face to all tax payers.
http://www.autoblog.com/2009/10/27/ford-makes-biggest-gains-in-consumer-reports-annual-relia/
They should have never been allowed to liquidate in this fashion anyhow. All they did was package their good assets as a new company, gave it a new name, and started over. Then they liquidated the junk.
The problem is that the shit they sell is also junk and now that's carried over to the new name. GM at least had good products in the pipeline and you could tell that they were going to pull through. Chrysler's been circling the drain for a few years now and they're not in a good situation right now either.
But this is what you get when the government plays with the private sector. They couldn't have given GM aid without also offering it to Chrysler and here we are.
If it were up to me they would have all been left to sink or swim on their own merit. Chrysler would have liquidated or been bought out, GM would have gone through bankruptcy but remained in business and Ford would be where they are now.
Now all you have is a bunch of lost taxpayer's, a company that's going to eventually fail anyhow and another company (Ford) who was dealt an unfair blow when they made all the right moves to prepare for coming bad times. You used to be rewarded for making decisions like that in the past. Now when it happens the government just swoops in and bails out your competition... Bleh.
The problem is that the shit they sell is also junk and now that's carried over to the new name. GM at least had good products in the pipeline and you could tell that they were going to pull through. Chrysler's been circling the drain for a few years now and they're not in a good situation right now either.
But this is what you get when the government plays with the private sector. They couldn't have given GM aid without also offering it to Chrysler and here we are.
If it were up to me they would have all been left to sink or swim on their own merit. Chrysler would have liquidated or been bought out, GM would have gone through bankruptcy but remained in business and Ford would be where they are now.
Now all you have is a bunch of lost taxpayer's, a company that's going to eventually fail anyhow and another company (Ford) who was dealt an unfair blow when they made all the right moves to prepare for coming bad times. You used to be rewarded for making decisions like that in the past. Now when it happens the government just swoops in and bails out your competition... Bleh.
GM will never pay back the taxpayers as well. The Gov't has said this based on analysis. Our Government is fucking us in the ass!
Great post BTW! You've done your homework!
It still remains up in the air whether Chrysler will be in business in the future.
It seems GM is going to pay back theirs though
http://www.msnbc.msn.com/id/34429910/ns/business-autos/
Read the article I posted
Read the article I posted
You aren't looking at the WHOLE picture....
http://content.usatoday.com/communities/driveon/post/2009/11/620000877/1
The Gov't may not get all their money invested back, but if the loans are paid back, that is a very good start... I'd rather get some $$ back than none
That's a terrible investment and an example why the bailouts were very very very poorly implemented. If you invested personal money and lost 80% of it, you'd be pissed. When you invest, you plan to make money not lose it.
True, but the gov't wasn't investing, the Gov't was putting money in to keep these companies afloat, and keep the may smaller suppliers afloat, and many many Americans in jobs, this was never a for profit venture... I just wanna know how much of the money they put in made it back into the economy
And I do agree that It could have been done better, like doing the bancrupsy first, before giving them $6,000,000,000.00+
this means the govt should be allowed to seize the rest of chryslers remaining stock of vehicles, and give them out to us tax payers, since we paid for them anyways. Not that i want a chrysler, but i could at least then sell it for a few bucks, cuz I need the damn money more than chrysler does at this point. Im sure id then blow that money on more useless junk I dont need, and thus the economy would be stimulated once again. Wheres obamas phone number?
Yep and that's why we shouldn't have done it. We should have let the free markets work, but that's another economic discussion.
Lets do it! 
True, but free market didn't exsist durring the housing bubble.....Which was allowed by Gov't backing of cheap credit.... blah blah blah, financial explosion everyone knows the rest... Free market has been dead for a while here in the US....too bad for us
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The US Government created the bubble, NOT the free markets. Without the US Gov't backing the loans and Gov't GSE's, this situation would have never happened.
True I re-read that, and I did word it wrong..... Free market is just a dream in this day and age...
I corrected it now
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