U.S. boosts estimate of auto bailout losses to $23.6B. Up from $14.33 billion thanks to Government Motors, the gift that keeps on screwing tax-payers and should have been left to die.

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danybhoy
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danybhoy

The BS about the GM/Chrystler/UAW bailout will never end. The loans with GM were never paid back, the payments were coming from an escrow account set up by the gov’t, to pay back the gov’t. That’s kinda like paying your Visa bill with your Master Card, you still owe either way. Chrystler was basically given to Fiat at a rock bottom price at the expense of the origional shareholders, who were screwed over. This story stinks, it has from the very start, & will get worse as time goes by.

I will never touch anything made by GM ever again, I had a couple of their cars growing up, I’ve never owned a Chrystler, & I never will. Maybe I just will avoid anything made with UAW labor, period. I have a feeling that the bailout is the worst thing that ever happened to the American auto industry.