T Nation

$1.3 Bil Loss = Success


The Chrysler Group bailout officially ended Thursday when the Treasury Department sold off its remaining stake in the automaker, and the final tally shows the taxpayers lost $1.3 billion.

Only our government could think of losing $1.3 Billion as a success.


And people still want Obama to run for office?

Honestly, what good has he done for this world or even this country? I'm honestly asking :o ]


He took out Osama, remember? =3


So...let me get this straight. The govt paid 1.3 billion dollars to turn an American car company into an Italian one. Letks cut to the core of the issue, that is the result no? That is absurd it could be off monty python.


You mean the Nobel Peace Prize winning President shot an unarmed man in the face twice ?


Well, there are a few questions:

1: What's the likelihood that holding on to the stock would result in gains? Sometimes it's better to cut your losses.

2: More significantly, there's an imperial[1] shit-ton of pressure for the government to divest itself of any holdings in corporate stock. God forbid we have a socialized industrial policy. Unlike, say, such economic failures as China, Germany, India, Brazil, .... This (as with much right-wingnut economic policy) is taken as an article of faith, immune to factual evidence.

Note that a "success criterion" of the sale was exiting ownership of Chrysler 6 years ahead of schedule. Divestiture is seen as more critical than profit.

Was the bail-out worthwhile? That will depend on how well the company does from here on out in generating jobs, income, revenues, and tax receipts.


1: The agitators against government-held assets would never allow for metric units to be used.


Multiply the EI payouts of all the currently employed American Chrysler employees.

Calculate the net Federal tax income from all the sales and employee income of Chrysler.

It was an absolute success.


And subtract all the Ford workers, and Nissan workers and Toyota workers that would have gotten more productive jobs while taking over the market for GM.