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Subject
Taxpayers Lose $1.3 BILLION On Chrysler Bail Out
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[quote:General Troll, US Shillitary:MV8xNTY4OTI1XzI1OTMzNjA5X0I5Q0NBQjcz] $1.3 Billion?! Quick! Let's cut entitlement programs to recoup that money! :stoopid: [/quote]
Original Message
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.
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.
more [
link to money.cnn.com
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