Friday, December 16, 2011

Taxpayers will lose $14B on auto bailouts –

Taxpayers will lose $14B on auto bailouts –
I confess I have not run any numbers on this, but come on, losing $14B (and maybe more as the article was ambigous on whether this included the "$19.4 billion the government put into GM before the 2009 bankruptcy" or not) can hardly be an unambiguous success. Can it?

"Taxpayers will lose about $14 billion on the $82 billion investment to restructure General Motors, Chrysler and Ally Financial, former auto czar Steven Rattner said Thursday."

He continues:
""It's unambiguous that it was a success," Rattner told the Detroit Economic Club, acknowledging his inherent bias because he led the effort."

Wait, really?

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