Treasury: US to lose $25 billion dollars on Auto Industry Bailout
http://www.detroitnews.com/article/2...TO01/208130392
Washington -The Treasury Department says in a new report the government expects to lose more than $25 billion on the $85 billion auto bailout. That's 15 percent higher than its previous forecast.
In a monthly report sent to Congress on Friday, the Obama administration boosted its forecast of expected losses by more than $3.3 billion to almost $25.1 billion, up from $21.7 billion in the last quarterly update.
The report may still underestimate the losses. The report covers predicted losses through May 31, when GM's stock price was $22.20 a share.
On Monday, GM stock was trading down 6 cents, or 0.2 percent, to $20.49. At that price, the government would lose another $850 million on its GM bailout.
From The Detroit News: http://www.detroitnews.com/article/2...#ixzz23SForyX6
Re: Treasury: US to lose $25 billion dollars on Auto Industry Bailout
And here's my Etrade baby shocked face :0)
Re: Treasury: US to lose $25 billion dollars on Auto Industry Bailout
Do they ever tell the truth on how much anything is going to cost.:confused:
Re: Treasury: US to lose $25 billion dollars on Auto Industry Bailout
Wait, I though all that money had been paid back.
Re: Treasury: US to lose $25 billion dollars on Auto Industry Bailout
Buy a Ford. Seriously.
I go on rants constantly about what GM still owes and the sheep believe the BS TV ad claiming it was all paid back.
Ugh.
Re: Treasury: US to lose $25 billion dollars on Auto Industry Bailout
BTW, I think it's like $126,000,000,000 still owed.
Re: Treasury: US to lose $25 billion dollars on Auto Industry Bailout
Unions didn't lose did they
Re: Treasury: US to lose $25 billion dollars on Auto Industry Bailout
Quote:
Originally Posted by
jazyd
Unions didn't lose did they
Nope. Not a dime.
Re: Treasury: US to lose $25 billion dollars on Auto Industry Bailout
How many non-union companies got bail out money?
Re: Treasury: US to lose $25 billion dollars on Auto Industry Bailout
Same amount the coal companies get.
Quote:
Originally Posted by
ukblue
How many non-union companies got bail out money?
Re: Treasury: US to lose $25 billion dollars on Auto Industry Bailout
The government invests about .24 cents per kilowatt of power produced with coal. They have a little more than 24.00 per kilowatt invested in solar and wind energy. They must think the xtra 10 percent is worth it.
Re: Treasury: US to lose $25 billion dollars on Auto Industry Bailout
Quote:
Originally Posted by
ukblue
The government invests about .24 cents per kilowatt of power produced with coal. They have a little more than 24.00 per kilowatt invested in solar and wind energy. They must think the xtra 10 percent is worth it.
10%?
Re: Treasury: US to lose $25 billion dollars on Auto Industry Bailout
Quote:
Originally Posted by
Badinage
10%?
Bandiage, a joke about the way our government figures things. Sort of like the guy that said he bought beef for 10 dollars a pound and sold it for 30 and made a good living on the 20% markup.:)
