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Chrysler to payback the US and Canadian Gov't $7.5B next week!

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posted on May, 20 2011 @ 05:01 AM
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Chrysler has announced it will payback the $7.5B in loans in got in 2009 next week to be paid in full. Fiat S.p.A. to take control of 51% share by years end.

detnews.com...




posted on May, 20 2011 @ 06:24 AM
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This is great news right? LOL
Second line.



posted on May, 20 2011 @ 08:12 AM
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It's good news to me, since quite a few people were speculating that the government would never get any of the bailout money back and the taxpayers would be left holding the bag. I think we've made over $25 billion in profit so far.



posted on May, 20 2011 @ 10:35 AM
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Brings new meaning to "Fiat Currency", no?


But anyhow, us taxpayers get the checks, right?



posted on May, 20 2011 @ 11:15 AM
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Looks like inspite of the nay sayers Obama's auto bailout is going to work out ok.



posted on May, 20 2011 @ 11:47 AM
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Originally posted by lokdog
Looks like inspite of the nay sayers Obama's auto bailout is going to work out ok.


Okay for whom? The people or the government?
I know one could argue that if it works out in the positive for the government it's a positive for the people but who really reaps the benefits? If they get to keep the money, the government will see these sorts of actions as a potential tool to help themselves to more money: bail out this and that and the other and get profits and thus more money back than invested and they will become more willing to take ownership of other companies deemed "too big to fail".

The FRB (Federal Reserve Board) should be managing how much money is in our "Reserves", not doling out money to any corporation that they see as a threat to the economy should it fail. Is it any wonder Fiat, and Daimler-Benz, both foreign companies have taken at one point or another an interest in what has historically been intrensically "American" companies?

I give up. I am now going to go out of my way and buy products made in the USA from materials produced in the USA whenever feasible. And I have to say, Chrysler lost my support when they enlisted VW to help with FWD cars in the late 70's/early 80's, GM lost my support when GEO "marqueed" cars came in and Ford ... well, I've never liked anything Ford except for the Mustang.



posted on May, 20 2011 @ 11:52 AM
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Finally! A big business that actually takes responsibility for thier debt.
2nd



posted on May, 20 2011 @ 11:55 AM
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Originally posted by TheMessenger1
Finally! A big business that actually takes responsibility for thier debt.
2nd


Did you read the article? Selling bonds, refinancing debt into "banks" backed by the government instead of the government itself (what's the difference?)....



posted on May, 21 2011 @ 03:44 AM
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Originally posted by abecedarian
Brings new meaning to "Fiat Currency", no?


But anyhow, us taxpayers get the checks, right?


No, the cheque goes to the Treasury where the debt will be erased and since the loan was direct to Chrysler means the American taxpayer was never ever on the hook for a single penny just like how during the bailouts the banks were on the hook for the cash and not the taxpayer.



posted on May, 21 2011 @ 10:11 AM
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reply to post by abecedarian
 


At the time people were predicting a loss of 100k jobs if the automakers and there suppliers went under. I think the fact that the USA still has an auto industry thanks to the bailout and didnt lose that many jobs is a win to me. At the time of the crisis even Ford and the Japanese auto makers were asking for GM and Chrysler to be bailed to save the suppliers wich all the auto companies share. As long as theyre paying the money back and the tax payers atleast break even im happy with how it has all turned out.....so far.



posted on May, 21 2011 @ 10:49 AM
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Originally posted by TheImmaculateD1
No, the cheque goes to the Treasury where the debt will be erased and since the loan was direct to Chrysler means the American taxpayer was never ever on the hook for a single penny just like how during the bailouts the banks were on the hook for the cash and not the taxpayer.


Care to explain that? I am curious how you came to that reasoning.

Those loans were backed by the government.



posted on May, 21 2011 @ 12:24 PM
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Originally posted by GAOTU789

Originally posted by TheImmaculateD1
No, the cheque goes to the Treasury where the debt will be erased and since the loan was direct to Chrysler means the American taxpayer was never ever on the hook for a single penny just like how during the bailouts the banks were on the hook for the cash and not the taxpayer.


Care to explain that? I am curious how you came to that reasoning.

Those loans were backed by the government.


There is alot of people who believe the taxpayer is on the hook for it when this is clearly not the case as the loan was made direct to Chrysler.



posted on May, 24 2011 @ 09:20 PM
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The debts have been repaid in full :

www.nytimes.com...



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