U.S. “Unlikely” to Recoup Auto Bailout Funds – DUH!
The report said that a $5.4 billion portion of the $10.5 billion owed by Chrysler is “highly unlikely” to be repaid, while full recovery of the $50 billion sunk into GM would require the company’s stock to reach unprecedented heights.
via U.S. ‘Unlikely’ to Recoup Auto Outlay, Panel Finds – washingtonpost.com.
Like…DUH! I said this back as soon as it happened. Obama said he would get a 19,000%+ return on his funds (in five years). As an expert investor myself who knows how to get above average returns I knew that Obama was lying through his teeth and called him on it here. Foolishness and more foolishness from those that believed the auto bailout was a good thing! I wonder how much more money will be sunk here when GM is unable to recover even from with the $50 billion? It’s no surprise when the government spends money usually bad things happen.
