The truth behind Chrysler's fake auto bailout pay back

The truth behind Chrysler's fake auto bailout pay back

washingtonexaminer.com< br />

The New York Times reports: “Chrysler said Tuesday that it had paid back $7.6 billion in loans from the American and Canadian governments, marking another significant step in the revival of the company, the smallest of the Detroit automakers.” But as The Truth About Cars reports, the loan pay back is just another Obama con job:

So, to recap, the Obama Energy Department is loaning a foreign car company $3.5 billion so that it can pay the Treasury Department $7.6 billion even though American taxpayers spent $13 billion to save an American car company that is currently only worth $5 billio

(visit the link for the full news article)

This is quite the shell game. I think this amounts to not much more than taking money out of your left pocket and then putting into your right pocket and calling it a business transaction. It's sort of amusing if you really think about it.

The biggest issue is how this is all being declared a success and that Chrysler has somehow paid back their loans. See the government loan bailout was a success. A New York Times article yesterday was trumpeting the success of Chrysler but if you skipped past the headline you found a dizzying succession of money swaps and rotating lines of credit mentioned. See if you can make heads-or-tails sense of the following description of the money transactions that took place.

Chrysler was able to repay the loans because it had negotiated new financing with a consortium of investment banks that includes a term loan of $3 billion, debt securities totaling $3.2 billion and a revolving credit facility of $1.3 billion.

The loan repayment was also helped by funds from Fiat, which paid Chrysler $1.3 billion to increase its stake to 46 percent.

www.nytimes.com...

At any rate was anything accomplished other than the addition of a screaming headline that someone will reference this next election cycle? At what point does this become money laundering? Just curious. I really don't have the background to fathom how exactly this indicates that Chrysler is in better shape. It's all still going down-hill from my point of view.

washingtonexaminer.com< br /> (visit the link for the full news article)

What is more sad and tragic?

This story?

Or the fact that soon everyone will learn of this and nothing will be done?

Ugh.... this kind of crap gives me heartburn. Where are the Tums?

well its not like they can say look at this we're pretending to have paid you back a tiny fragment of the cash we stole. And this one little company making cars in the USA still wont be enough to save America...

This is pure desperation they need to seem like they are doing something right... War lies propaganda are todays reality in America. Expect an economic collapse more false falgs rdfi chips and FEMA mass execution camps sooner than latter.

reply to post by dbates


"At what point does this become money laundering?"

Its not money laundering when you work for the government only when your a civilian

when government does it its called politics

when you and i do it .. its money laudering


welcome to the mafia and organized crime lol


The switcharoo bailout how gullable we are?

I'll be the first to admit I don't know jack... But there are those who do and I would wager to guess this is all bs. It is so skewed that it is hard to find the truth in any numbers. Unemployment, housing, QE, they all make up their own rules and fail to share. It is to to point I have just come to expect that everything anyone says regarding anything money related is a bold face lie!

Govt official
"Step right up and pick a winner. All you gotta do is follow the card. Follow the card, follow the card, see this card? Just follow the card, follow the card"
US Tax Payer
"I pick the one of the right"
Govt official
"Oh sorry, that is not the right one. You loose $13bil. Want to play again?"
US Tax Payer
"no, not really"
Govt Official
"Yeah, that's funny because you have no choice. So, step on up again and pick a card"

reply to post by dbates


ive been saying for a while now that the market is a big scam. If someone cant explain the way it works in under 1 minute, its a scam. Something are complex, but its something man just created.. And created to steal your money. Was it a coincidence that the boomers 401s died a few years short of their payout? No. Chrystler is just bad at keeping monetary secrets.. And their business is weak. But hey, the government is in the business of helping out buddies.. Maybe their stock will go up.. Maybe they'll create an engine that gets 400 a gallon with 400hp.. Then again, there not in the business of saving you or I money.. But in the business of laundering.

reply to post by dbates


Ats never lets me down, lol. I heard about this and wanted to read on it as it is yet another slap in our faces (imo) and our wallets. Is this our reality?
I don't understand how the government can continue to rob from Peter to pay Paul. If it was me, I'd be charged, convicted and the cold steel door would be hitting my behind before I could say..... Butttt... (SLAM)

The only good thing about this is that I get to read the comments posted here from other ATS members. Maybe it will make sense now.

Time to get enlightened

Peace

Originally posted by dbates

The truth behind Chrysler's fake auto bailout pay back

washingtonexaminer.com< br />

The New York Times reports: “Chrysler said Tuesday that it had paid back $7.6 billion in loans from the American and Canadian governments, marking another significant step in the revival of the company, the smallest of the Detroit automakers.” But as The Truth About Cars reports, the loan pay back is just another Obama con job:

So, to recap, the Obama Energy Department is loaning a foreign car company $3.5 billion so that it can pay the Treasury Department $7.6 billion even though American taxpayers spent $13 billion to save an American car company that is currently only worth $5 billio

(visit the link for the full news article)

Good grief what kind of logic is that? It looks like paying Peter to pay Paul to pay Peter, I must have missed that day they taught this in economics.

The Ford company ranked number 1 in profits last quarter.
GM ranked 2nd
Toyota 3rd

Obama has us surrounded with what he thinks is a win-win for his special interest agenda.
The truth is (so far) most Americans haven't caved to his will although we are certainly feeling the squeeze around our necks and wallets.

Money talks, BS walks. May I restate that. Real money talks, BS walks (in the long run).
The White House and The Democrat Committee are so detached from The People it's become clinical imo.

I hope to see all their faces when reality sets in! It may not happen tomorrow but I know it will happen.

I am only a couple of months away from buying a new car and there is no way my money will go to those dictators and their hybrid and dangerous vehicles.

I may not understand why they insist on abusing our money, liberties and intelligence and frankly, I no longer care why!
This administration taught me well. I have never been more active in politics and embracing The Constitution of the United States as I am now.
My money has been talking for me and my actions have made a big difference (imo), the best part is that I'm not alone in it.
One day Paul is going to kick Peters a**! One day the lights are going to go out and I suspect it will be sooner than they suspect.

That is an extremely misleading article. That is not how it is being done. you should have done more research before posting that.
Chrysler Lines up $7.5 Billion to Repay Loans
U.S. hopes Chrysler will qualify for energy loans

Originally posted by gorgi
you should have done more research before posting that.

You're correct. It's even worse than I initially thought. I think I did mention somewhere that Chrysler was forgiven over $4 billion in loans. That's right $4 billion. Just keep it and send us a Christmas card.

For even more yuck-yucks check out the crazy story that is the GM bailout.

GM's Phony Bailout Payback

when Whitacre says GM has paid back the bailout money in full, he means not the entire $49.5 billion—the loan and the equity. He means only the $6.7 billion loan amount. GM, which has not yet broken even, much less turned a profit, can't pay even this puny amount from its own earnings.

the Obama administration put $13.4 billion of the aid money as "working capital" in an escrow account when the company was in bankruptcy. The company is using this escrow money—government money—to pay back the government loan.

This verges on the border of insanity and we the public are supposed to buy that all of this was a complete success. Just for grins GM has now applied to the Department of Energy for a $10 billion loan on top of the $13 billion escrow money and the over $43 billion that it still owes the government. Still, success right? Only if you're a blind bat and have no clue what's going on. This is all just a shell game.