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^ Top   #1   09.09.2009

Baack Trucker Forum STAFF   Last Seen: 7 Hours Ago 09.22 PM Member Since: May 2007 Location: Wisconsin Trucker? Trucking Industry Posts: 16,028 My Trucking Photos: 0 Thanks: 10,061 Thanked: 7,370 Times

Taxpayers face heavy losses on auto bailout Quote: WASHINGTON – 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. "I think they drove a very hard bargain," said Elizabeth Warren, the panel's chairwoman and a law professor at Harvard University, referring to the Obama administration's Treasury Department. "But it may not be enough." The prospect of recovering the government's assistance to GM and Chrysler is heavily dependent on shares of the two companies rising to unprecedented levels, the report said. The government owns 10 percent of Chrysler and 61 percent of GM. The two companies are currently private but are expected to issue stock, in GM's case by next year http://news.yahoo.com/s/ap/20090909/...versight_panel __________________ Forum Rules The Thanks! button Spelling and the TTR How to insert a picture Using our search feature Copying and pasting articles TTR Advertising opportunities

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^ Top   #2   09.12.2009

Air Breeze Light Load Member   Last Seen: 1 Day Ago 04.40 PM Member Since: Jun 2009 Location: Tennessee Trucker? 14 Years Posts: 74 My Trucking Photos: 0 Thanks: 0 Thanked: 24 Times

The American taxpayer gets screwed again.The people of this country will be paying for all these bailouts for the next 30 years.Wait till its time for you to retire and see how much money is left to send you a social security check every month.People better wise up real soon and realize their is no such thing as a free lunch,sombody has to pay the bill sooner or later.

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