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NEW YORK (CNNMoney) -- U.S. taxpayers likely lost $1.3 billion in the government bailout of Chrysler, the Treasury Department announced Thursday.
The government recently sold its remaining 6% stake in the company to Italian automaker Fiat, wrapping up the 2009 auto bailouts that were part of TARP.
Fiat paid the Treasury a total of $560 million for the remaining shares, as well as rights to shares held by the United Auto Workers retiree trust.
Originally posted by Mirthful Me
We the taxpayer were scammed and taken to the cleaners... All for UAW...
Thanks a lot unions, you're the tip of the spear in the onslaught to destroy this country.
Originally posted by Asktheanimals
Unions were a good thing once and brought us many worker protections and benefits, Of course the UAW went way too far when the guy who swept the shop floor was hired at $33/hr.
So these retired autoworkers get to keep their fat pensions at everyone else's expense?
And they wonder why Detroit is now called Rot City.