Uncategorized — April 28, 2011 at 8:32 am

More federal loans to auto industry being paid back by Chrysler Corp


The federal government is about to get back more of the money it loaned to American automakers. This time it’s the Chrysler Corporation. They are going to sell some debt and take out bank loans to pay back the U.S. government.

Chrysler says it will take out bank loans and sell debt later this quarter to repay $6.6 billion in bailout loans from the U.S. and Canadian governments.
The move would bring the governments closer to getting much of their bailout money back. It also would save Chrysler millions of dollars in interest payments.

Tell me again why helping keep the domestic vehicle manufacturers was such a bad idea?
I’m just sayin’…