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Thread: U.S. loses $1.3 billion in exiting Chrysler

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    U.S. loses $1.3 billion in exiting Chrysler

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    NEW YORK (CNNMoney) -- U.S. taxpayers likely lost $1.3 billion in the government bailout of Chrysler, the Treasury Department announced Thursday.
    The government recently sold its remaining 6% stake in the company to Italian automaker Fiat, wrapping up the 2009 auto bailouts that were part of TARP.
    3Print Fiat paid the Treasury a total of $560 million for the remaining shares, as well as rights to shares held by the United Auto Workers retiree trust.
    Originally, the government committed a total of $12.5 billion to the struggling automaker, Old Chrysler and Chrysler Group. Of those funds, $11.2 billion has been returned through principal repayments, interest and cancelled commitments, the Treasury said. Chrysler paid back $5.1 billion in loans in May.
    Even though that means $1.3 billion will not be recovered, the Treasury called it a "major accomplishment."
    Oh, what's $1.3B.....we have a major accomplishment to celebrate.
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    Re: U.S. loses $1.3 billion in exiting Chrysler

    Quote Originally Posted by American View Post
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    Oh, what's $1.3B.....we have a major accomplishment to celebrate.
    Can't be. I was just in a discussion where it was argued that TARP was paid back. It is small when you consider what F&F is going to cost us though.

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    Re: U.S. loses $1.3 billion in exiting Chrysler

    Quote Originally Posted by 1Perry View Post
    Can't be. I was just in a discussion where it was argued that TARP was paid back. It is small when you consider what F&F is going to cost us though.
    a good part of tarp has been paid back. there is no disputing that.

    Originally Posted by johnny_rebson:

    These are the same liberals who forgot how Iraq attacked us on 9/11.


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    Re: U.S. loses $1.3 billion in exiting Chrysler

    So I assume I won't be getting a dividend on this deal?

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    Re: U.S. loses $1.3 billion in exiting Chrysler

    Quote Originally Posted by liblady View Post
    a good part of tarp has been paid back. there is no disputing that.
    Not the arguement and it's saying nothing. The government said they had to give billions to entities that didn't even need it, so it would be no surprise that after using that money to flood the markets they were able to pay it back.

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