Bwaaaaaaaaaaaaah! What ReTHUGS are saying about that Chrysler loan now

[malaise]

http://blog.heritage.org/2011/05/25/chrysler-credit-the-bankruptcy-not-the-bailout/
<snip>
“We received confirmation this morning…that Chrysler Group repaid, with interest, by wire transfer to the United States Treasury and by bank transfer to the Canadian government, every penny that had been loaned less than two years ago.”

That simple statement by Chrysler (and Fiat) CEO Sergio Marchionne that Chrysler had paid off its taxpayer loans sparked a victory dance among supporters of the automaker bailout that would have made Snoopy proud. President Obama issue a statement from Europe lauding the “tough decisions” he made to help the firm and made plans to visit a Chrysler plant in Ohio next week for a congratulatory photo op.

Taking a tougher approach, the Democratic National Committee launched an ad campaign attacking opponents of the bailout, saying that if the critics had succeeded, Detroit would have gone bankrupt.

But the pro-bailout jig is a bit misplaced. First, despite the congratulatory statements, Chrysler had hardly paid back its debt to the American taxpayer. Notice the careful wording in the Marchionne statement: Every penny that had been loaned “less than two years ago” has been repaid. That conveniently leaves out some $3.5 billion loaned to Chrysler more than two years ago. That includes $1.9 billion provided to Chrysler on May 1, 2009, as well as another $1.9 provided to Chrysler in late 2008.
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Fuck You Heritage Foundation - wrong again - wrong as usual

Meanwhile Obama will visit a Chrysler Toledo factory on June 3rd.
http://online.wsj.com/article/SB10001424052702304520804576345881898252252.html
<snip>
President Barack Obama will visit an Ohio auto plant next week to make the case that the administration's bailout of General Motors Co. and Chrysler LLC has fundamentally changed the companies, U.S. Treasury Secretary Timothy Geithner said Wednesday.

Mr. Obama is planning a June 3 visit to a Chrysler Toledo factory that makes the Jeep Wrangler.

With the visit, Mr. Obama will "help again underscore and help people understand the amount of restructuring that happened and why, not just the choices made, but the decisions made and the management, what management has brought to those companies," Mr. Geithner said at a panel in Washington D.C. hosted by Politico.

It's been nearly two years since the U.S. Treasury ushered GM and Chrysler through U.S. funded bankruptcy restructurings. The bailout was hugely controversial at the time. In the time since, both companies are making money for the first time in a decade and sales continue to rise as customers return to their brands.

[Lasher]

1. WTF, the WSJ used to be an actual newspaper until it was bought out by the GOP propaganda ministry.

What is this shit right here? Oil companies get subsidies they don't need, money we'll never see again. That's supposed to be good. We loan money to the auto industry so that they can survive. They pay that back with interest and that's supposed to be bad?

:wtf:

[underpants]

2. Ford, who the Repubs laud endlessly, also got a $6 B loan (bailout) to upgrade plants

per the norm we never get the full equation from our media. Ford is the darling of the RW media because they weren't "bailed out" but they DID get a $6Billion loan from...wait for it... the Department of Energy ( never mentioned ) to upgrade plants to make hybrids.

look it up.

[tabatha]

3. Yep, the 2008 loan was from Buscho

made in such a way, that more had to be loaned.

($1.9 provided to Chrysler in late 2008.)