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Originally Posted by Bartruff1
Is in excellent condition to continue to compete in the global market. To even imagine that the United States would allow the auto industry to implode as a result of a collapse of the credit makets and the manipulation of the price of oil is just nuts. Thanks to quick and smart action in restructuring of the product line, the labor agreements, the dealership network...etc a catastrophe was averted. |
WASHINGTON — Taxpayers will lose about $14 billion in the government's $80 billion bailout of Chrysler and GM, the White House said Wednesday, portraying the outcome as good news since the losses are far lower than originally anticipated.
Seizing on the figures, the Obama administration took credit for the resurgence of the U.S. auto industry, assuring taxpayers that the government's bailout of Chrysler and GM was an investment worth making.