CAMARO6 - View Single Post - Tax payers face heavy losses on auto bailout.

fdjizm · 09-09-2009, 10:56 AM

http://finance.yahoo.com/news/Taxpay...4&asset=&ccode

looks like we are NOT getting our money back contrary to popular belief.

"The Congressional Oversight Panel did not provide an estimate of the projected loss in its latest monthly report on the $700 billion Troubled Asset Relief Program. But it said most of the $23 billion initially provided to General Motors Corp. and Chrysler LLC late last year is unlikely to be repaid."

"Other agencies have also projected large losses on the loans and investments provided to the industry. The Congressional Budget Office estimated in June that taxpayers would lose about $40 billion of the first $55 billion in aid."

09-09-2009, 10:56 AM	#1
fdjizm Account Suspended Drives: 2008 Mustang GT/CS Join Date: Mar 2009 Location: New Jersey Posts: 1,429 View My Garage	Tax payers face heavy losses on auto bailout. http://finance.yahoo.com/news/Taxpay...4&asset=&ccode looks like we are NOT getting our money back contrary to popular belief. "The Congressional Oversight Panel did not provide an estimate of the projected loss in its latest monthly report on the $700 billion Troubled Asset Relief Program. But it said most of the $23 billion initially provided to General Motors Corp. and Chrysler LLC late last year is unlikely to be repaid." "Other agencies have also projected large losses on the loans and investments provided to the industry. The Congressional Budget Office estimated in June that taxpayers would lose about $40 billion of the first $55 billion in aid."