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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.
Originally posted by TheMessenger1
Finally! A big business that actually takes responsibility for thier debt.
2nd
Originally posted by abecedarian
Brings new meaning to "Fiat Currency", no?
But anyhow, us taxpayers get the checks, right?
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.
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.