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Not a Red Cent: Chrysler Not Paying Back TARP Loan

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  • Not a Red Cent: Chrysler Not Paying Back TARP Loan


  • #2
    Re: Not a Red Cent: Chrysler Not Paying Back TARP Loan

    As a taxpayer, I have the right to say; "THAT SUCKS, YOU BASTARDS" !!!

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    • #3
      Re: Not a Red Cent: Chrysler Not Paying Back TARP Loan

      If i remember correctly, when Lee Iacoca paid back the last loan 3 years early, the feds didnt know how to deposit the check, after all NO ONE ever paid them back before, I may be mistaken but to this day that check is still undeposited!
      GO FIND IT! Or go get our money back from Isreal!, or France, our whoever the fck.

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      • #4
        Re: Not a Red Cent: Chrysler Not Paying Back TARP Loan

        I'm glad I bought a new FORD!

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        • #5
          Re: Not a Red Cent: Chrysler Not Paying Back TARP Loan

          I hope nobody here is surprised about this. It is despicable to be sure and no, I will not even consider a Chrysler product when my wife begins looking for a new car in a couple of months.

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          • #6
            Re: Not a Red Cent: Chrysler Not Paying Back TARP Loan

            I'm no expert and I'm not sticking up for it, but isn't that what bankruptcy is for? To get out of the deep hole the party undergoing bankruptcy is in. If the bankrupt company/person had do pay back all their debt, then what's the point of filing for bankruptcy? Honest question, not trying to be a smart ass.

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            • #7
              Re: Not a Red Cent: Chrysler Not Paying Back TARP Loan

              US Taxpayers should not buy a frickin' thing from Chrysler until they re-jigger their financial statement.
              Further - it should be open season on any Chrysler management.
              Beatdowns on sight, anyone?
              Act your age, not your shoe size. - Prince

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              • #8
                Re: Not a Red Cent: Chrysler Not Paying Back TARP Loan

                Originally posted by moparmaniac07
                I'm no expert and I'm not sticking up for it, but isn't that what bankruptcy is for? To get out of the deep hole the party undergoing bankruptcy is in. If the bankrupt company/person had do pay back all their debt, then what's the point of filing for bankruptcy? Honest question, not trying to be a smart ass.
                Normally in a corporate bankruptcy like this, the assets are liquidated for whatever they can be sold from, and the creditors repaid on a prorated basis from the proceeds. At the point the debt is canceled. Like if you bought a car at a repo auction, it's yours free and clear .

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                • #9
                  Re: Not a Red Cent: Chrysler Not Paying Back TARP Loan

                  Beatdowns on sight, anyone? I drive past their headquarters every day to and from work. Any body got a rusty old suburban I can borrow as an assault vehicle ;D
                  Coming at you live from the birthplace of GM,Flint,Mi. Where your car is worth more than the property it's parked on.

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                  • #10
                    Re: Not a Red Cent: Chrysler Not Paying Back TARP Loan

                    Originally posted by moparmaniac07
                    I'm no expert and I'm not sticking up for it, but isn't that what bankruptcy is for? To get out of the deep hole the party undergoing bankruptcy is in. If the bankrupt company/person had do pay back all their debt, then what's the point of filing for bankruptcy? Honest question, not trying to be a smart ass.
                    In bankrupcy, the assets are liquidated to pay the creditors. THe creditors must be paid equaly and equitably. To the extent that there is not enough in assets to cover the liabilities, all the creditor share equitably in the loss.
                    From what I am reading here, it sounds like all the good and valuable assets went to Fiat, and all the crap went into Old Carco. So the creditors can only go after Old Carco, and are getting gypped out of assets. And the taxpayers are being excluded from their share of any assets available.

                    That seems to be the typical MO of the current administration. Claim a dire emegency exists so they can ram things thru so fast that no one knows how bad they are getting hosed.

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