Taxpayers face losses on Goverment Bailouts

[SteamWake]

WASHINGTON (AP) - Taxpayers face losses on a significant portion of the $81 billion in government aid provided to the auto industry, an oversight panel said in a report to be released Wednesday.
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.



Geee I'm shocked.
Yes these are the people I want in charge of my healthcare too. :-?

[AVGWarhawk]

That was expected I believe. At least I expected nothing back. -shrugs-

[SteamWake]

What was expected was something to show for the money...

As far as I know GM continues to struggle.

[mookiemookie]

I still want my $100,000 back that Chrysler spent on those stupid "Thank you for saving our ass, suckers!" ads last December.

[AVGWarhawk]

And they will continue to struggle as well as the others. The economy still sucks. They need more time. Really, it was a last ditch effort. We can only sit back and wait. Cash for Clunkers was very telling. More Toyotas were sold than any other manufacturer. American manufacturers did command 41% of the total cash for clunker deals. GM was in the mix. I think most sold were Fords. At any rate, I drive by 3 dealerships on the way home from work and there is always someone pulling out on a test drive. Cars are being sold but not in great numbers. Homes are being sold but not in great numbers as well. We are not out of this mess as yet. I do think we are slowly moving in a good direction though.

[AVGWarhawk]

I still want my $100,000 back that Chrysler spent on those stupid "Thank you for saving our ass, suckers!" ads last December.

Do you recall Lee Iacocca? 'Thanks America! Now it is up to us!'

[SteamWake]

Another telling thing about the Cash for Clunkers is that many dealers are still awaiting re-imbursement.

[AVGWarhawk]

Another telling thing about the Cash for Clunkers is that many dealers are still awaiting re-imbursement.

They will get it. We have to remember that 1 billion was spent in under 7 days. That is a lot of cars to process. That is a lot of paperwork that Joe government worker is slowly taking his time on. Since when did anything having to do with the government happen fast? If these dealers crossed their T's and dotted their I's when submitting the paperwork then all should be fine.

[FIREWALL]

Preparation H is posting Huge profits. :p2:

ExLax is going down the toilet. :DL

Viagra's profits are steadily Growing amid stiff competition. :o


All this with no Bailouts

[SteamWake]

They will get it. We have to remember that 1 billion was spent in under 7 days. That is a lot of cars to process. That is a lot of paperwork that Joe government worker is slowly taking his time on. Since when did anything having to do with the government happen fast? If these dealers crossed their T's and dotted their I's when submitting the paperwork then all should be fine.


"They will get it" yea sure eventually, maybe, I'm not holding my breath.

Do you want to 'eventually' get it with your healthcare too?

[SteamWake]

Viagra's profits are steadily Growing. :o

Thats some stiff competition. :har:

[AVGWarhawk]

"They will get it" yea sure eventually, maybe, I'm not holding my breath.

Do you want to 'eventually' get it with your healthcare too?

I think health care from Obama is dead in the water at the moment. Currently Pelosi is attempting to ram it up our arse. They are not listening to the people on this. Tonight Obama will do his best to get something done. Good luck to him. I think his silence for the past two weeks has sealed the fate of his program.

[SteamWake]

I think health care from Obama is dead in the water at the moment. Currently Pelosi is attempting to ram it up our arse. They are not listening to the people on this. Tonight Obama will do his best to get something done. Good luck to him. I think his silence for the past two weeks has sealed the fate of his program.

Dont count your chickens before they come home to roost :rotfl:

[AVGWarhawk]

Dont count your chickens before they come home to roost :rotfl:


He will get something but not the sweeping bill he hoped for. I still think he is short votes if he still pushes the public option. Also, he is introducing a penalty of $3800.00/family if they do not get health insurance. WTH?

[em2nought]

Also, he is introducing a penalty of $3800.00/family if they do not get health insurance. WTH?

His supporters aren't going to like that. Maybe he wouldn't have to do that, instead he could just make proof of insurance required for all leisure activities or items. Want cable? - buy yourself health insurance first. Want high speed internet? - buy yourself health insurance first. Want a beer? - Got health insurance? Probably would have saved a few foreclosures too! Want 100 channels of cable? - Have you paid the mortgage yet? Idiocracy is here. lol