U.S. Government Ends Chrysler Investment With $1.3 Billion Loss
Doesn't this headline make you feel all warm and fuzzy inside? No? Me either! I am mad that they let us lose in that deal! How stupid.... Oh wait...unless he wanted us to lose the money. Thoughts?
Darla
Published July 21, 2011
FoxNews.com
President Obama speaks at Chrysler Group's Toledo Assembly complex in front of a Jeep Wrangler, Friday, June 3, 2011, in Toledo, Ohio.
The U.S government has sold its shares in Chrysler LLC at a likely loss of $1.3 billion in taxpayer money, the Treasury Department said Thursday, announcing the end of a controversial investment that resurrected the troubled auto company.
Italian automaker Fiat SpA, which has run the company since it emerged from bankruptcy protection in June 2009, purchased the U.S. government's remaining 98,000 shares in the auto company for $560 million.
The financial loss irritated Republican lawmakers.
"I am deeply disturbed to learn that the Obama administration left $1.3 billion taxpayer dollars on the table in resolving its bailout of Chrysler," said Rep. Darrell Issa, R-Calif., chairman of the House Oversight and Government Reform Committee.
U.S. Government Ends Chrysler Investment With $1.3 Billion Loss
U.S. Government Ends Chrysler Investment With $1.3 Billion Loss
Doesn't this headline make you feel all warm and fuzzy inside? No? Me either! I am mad that they let us lose in that deal! How stupid.... Oh wait...unless he wanted us to lose the money. Thoughts?
The news just keeps getting better... Just heard on Fox News that the US aid to Afghanistan has been diverted to aid money laundering, aiding and abetting terrorism, etc... SIGH... Both stories below.
Darla
U.S. Government Ends Chrysler Investment With $1.3 Billion Loss
Published July 21, 2011
FoxNews.com
Published July 21, 2011
FoxNews.com
President Obama speaks at Chrysler Group's Toledo Assembly complex in front of a Jeep Wrangler, Friday, June 3, 2011, in Toledo, Ohio.
The U.S government has sold its shares in Chrysler LLC at a likely loss of $1.3 billion in taxpayer money, the Treasury Department said Thursday, announcing the end of a controversial investment that resurrected the troubled auto company.
Italian automaker Fiat SpA, which has run the company since it emerged from bankruptcy protection in June 2009, purchased the U.S. government's remaining 98,000 shares in the auto company for $560 million.
The financial loss irritated Republican lawmakers.
"I am deeply disturbed to learn that the Obama administration left $1.3 billion taxpayer dollars on the table in resolving its bailout of Chrysler," said Rep. Darrell Issa, R-Calif., chairman of the House Oversight and Government Reform Committee.
Doesn't this headline make you feel all warm and fuzzy inside? No? Me either! I am mad that they let us lose in that deal! How stupid.... Oh wait...unless he wanted us to lose the money. Thoughts?
The news just keeps getting better... Just heard on Fox News that the US aid to Afghanistan has been diverted to aid money laundering, aiding and abetting terrorism, etc... SIGH... Both stories below.
Darla
U.S. Government Ends Chrysler Investment With $1.3 Billion Loss
Published July 21, 2011
FoxNews.com
Published July 21, 2011
FoxNews.com
President Obama speaks at Chrysler Group's Toledo Assembly complex in front of a Jeep Wrangler, Friday, June 3, 2011, in Toledo, Ohio.
The U.S government has sold its shares in Chrysler LLC at a likely loss of $1.3 billion in taxpayer money, the Treasury Department said Thursday, announcing the end of a controversial investment that resurrected the troubled auto company.
Italian automaker Fiat SpA, which has run the company since it emerged from bankruptcy protection in June 2009, purchased the U.S. government's remaining 98,000 shares in the auto company for $560 million.
The financial loss irritated Republican lawmakers.
"I am deeply disturbed to learn that the Obama administration left $1.3 billion taxpayer dollars on the table in resolving its bailout of Chrysler," said Rep. Darrell Issa, R-Calif., chairman of the House Oversight and Government Reform Committee.
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