Taxpayers face losses on Goverment Bailouts

SteamWake · 09-09-09, 11:26 AM

Quote:

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 · 09-09-09, 12:14 PM

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

SteamWake · 09-09-09, 12:23 PM

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

As far as I know GM continues to struggle.

AVGWarhawk · 09-09-09, 12:28 PM

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.

SteamWake · 09-09-09, 12:30 PM

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

AVGWarhawk · 09-09-09, 12:33 PM

Quote:

Originally Posted by SteamWake

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 · 09-09-09, 12:36 PM

Preparation H is posting Huge profits.

ExLax is going down the toilet.

Viagra's profits are steadily Growing amid stiff competition.

All this with no Bailouts

mookiemookie · 09-09-09, 12:24 PM

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

AVGWarhawk · 09-09-09, 12:30 PM

Quote:

Originally Posted by mookiemookie

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!'

09-09-09, 12:14 PM	#2
AVGWarhawk Lucky Jack Join Date: Jun 2005 Location: In a 1954 Buick. Posts: 28,274 Downloads: 90 Uploads: 0	That was expected I believe. At least I expected nothing back. -shrugs- __________________ “You're painfully alive in a drugged and dying culture.” ― Richard Yates, Revolutionary Road

09-09-09, 12:23 PM	#3
SteamWake Rear Admiral Join Date: Mar 2005 Posts: 13,224 Downloads: 5 Uploads: 0	What was expected was something to show for the money... As far as I know GM continues to struggle. __________________ Follow the progress of Mr. Mulligan : http://www.subsim.com/radioroom/showthread.php?t=147648

09-09-09, 12:28 PM	#4
AVGWarhawk Lucky Jack Join Date: Jun 2005 Location: In a 1954 Buick. Posts: 28,274 Downloads: 90 Uploads: 0	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. __________________ “You're painfully alive in a drugged and dying culture.” ― Richard Yates, Revolutionary Road

09-09-09, 12:30 PM	#5
SteamWake Rear Admiral Join Date: Mar 2005 Posts: 13,224 Downloads: 5 Uploads: 0	Another telling thing about the Cash for Clunkers is that many dealers are still awaiting re-imbursement. __________________ Follow the progress of Mr. Mulligan : http://www.subsim.com/radioroom/showthread.php?t=147648

09-09-09, 12:36 PM	#7
FIREWALL Eternal Patrol Join Date: Mar 2006 Location: CATALINA IS. SO . CAL USA Posts: 10,108 Downloads: 511 Uploads: 0	Preparation H is posting Huge profits. ExLax is going down the toilet. Viagra's profits are steadily Growing amid stiff competition. All this with no Bailouts __________________ RIP FIREWALL I Play GWX. Silent Hunter Who ???

09-09-09, 12:24 PM	#8
mookiemookie Navy Seal Join Date: Nov 2005 Location: Houston, TX Posts: 9,404 Downloads: 105 Uploads: 1	I still want my $100,000 back that Chrysler spent on those stupid "Thank you for saving our ass, suckers!" ads last December. __________________ They don’t think it be like it is, but it do. Want more U-boat Kaleun portraits for your SH3 Commander Profiles? Download the SH3 Commander Portrait Pack here.