Forum Post: Occupy GM? or are the auto companies somehow special?
Posted 13 years ago on Nov. 16, 2011, 1:02 p.m. EST by letsallspeaktruth
(24)
This content is user submitted and not an official statement
The Treasury Department dramatically boosted its estimate of losses from its $85 billion auto industry bailout by more than $9 billion in the face of General Motors Co.'s steep stock decline. In its monthly report to Congress, the Treasury Department now says it expects to lose $23.6 billion, up from its previous estimate of $14.33 billion. The Treasury now pegs the cost of the bailout of GM, Chrysler Group LLC and the auto finance companies at $79.6 billion. It no longer includes $5 billion it set aside to guarantee payments to auto suppliers in 2009.
From The Detroit News: http://detnews.com/article/20111114/AUTO01/111140434/U.S.-boosts-estimate-of-auto-bailout-losses-to-$23.6B#ixzz1dtP7kDvm
I feel the U.S. auto companies are special. Its also people who have jobs and work in US paying taxes, buying products, helping the economy and the middle class....
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