Showing posts with label Taxpayers Face Heavy Losses On Auto Bailout. Show all posts
Showing posts with label Taxpayers Face Heavy Losses On Auto Bailout. Show all posts

Taxpayers Face Heavy Losses On Auto Bailout


Here's a story from the Fileunderi "Super Sarcasticly Said No Kidding?" File:

Taxpayers face heavy losses on auto bailout

Taxpayers likely to face significant losses on $81 billion auto bailout, watchdog report says:


WASHINGTON (AP) -- 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.


Read the rest of the story at Yahoo! News


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