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April 16th, 2014
3:13 AM
Reality Hammer Blog
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right vs wrong
Taxpayers lose big on TARP
Government pledges to make it up "in volume". :P

Seriously, though, how can anyone call this a "good deal"?
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.

An administration that loves to subsidize failure would call it that!
Even though that means $1.3 billion will not be recovered, the Treasury called it a "major accomplishment."

I suppose for an administration mired in failure "only" losing $1.3 billion of the taxpayer's money seems like a "major accomplishment"!

The potential for greater loses is still there, with the government holding about a third of available shares in GM.

Not everyone came out a loser from this program, however. Loyal Democrat voters (union members) got a $4000 bonus from the bailout.

Everyone else got played for a sucker by this program.

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