Taxpayers face heavy losses on auto bailout

[cobra de capell]

Taxpayers face heavy losses on auto bailout

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.

http://apnews.myway.com/article/20090909/D9AJOCJ00.html
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Geez, what a pile of poop!

[427sharpe]

And yet, did we expect anything else? One handout after another...

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