When President Obama finally leaves office, we expect him to end up working in New York. Not on Wall Street, but in Times Square. He’ll be there with a card table, challenging suckers to figure out which shell the ball is under.
While you may think this is an odd occupation for a former resident of the White House, it seems to be the one for which he is most qualified.
The Washington Examiner has the story:
American taxpayers have already spent more than $13 billion bailing out Chrysler. The Obama administration already forgave more than $4 billion of that debt when the company filed for bankruptcy in 2009. Taxpayers are never getting that money back. But how is Chrysler now paying off the rest of the $7.6 billion they owe the Treasury Department?
The Obama administration’s bailout agreement with Fiat gave the Italian car company a “Incremental Call Option” that allows it to buy up to 16% of Chrysler stock at a reduced price. But in order to exercise the option, Fiat had to first pay back at least $3.5 billion of its loan to the Treasury Department. But Fiat was having trouble getting private banks to lend it the money. Enter Obama Energy Secretary Steven Chu who has signaled that he will approve a fuel-efficient vehicle loan to Chrysler for … wait for it … $3.5 billion.
“Come on up, friends. It’s easy. Just keep your eye on the little ball. Tell me which shell the ball is under and you can win. Come on up.”
Source: The Washington Examiner
