Where did the $4 billion go to bailout Chrysler since they now declared bankruptcy?

January 20th, 2010 | by admin |
chrysler
Mike asked:


Thanks to the government’s philosophy of too big to fail, we bailed out Chrysler earlier this year with $4 billion and they now declared bankruptcy.

So, where is the bailout money going?

Why are we bailing out failed companies instead of investing into companies that have avoided bailout money, like Ford? If we are going to give money to companies, then we should at least give money to the companies that are solvent, not to people who are running an insolvent business.

Bamboo Flooring Installation

Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • Bumpzee
  • del.icio.us
  • Facebook
  • Furl
  • Mixx
  • NewsVine
  • Reddit
  • StumbleUpon
  • YahooMyWeb
  • Google

  • How much will the Chrysler Bankruptcy Effect Canadian Auto Workers?
  • Chrysler Bankruptcy
  • Chrysler Bankruptcy?
  • Why did the government have to bailout GM and Chrysler and not Isuzu? GM and Chrysler could follow isuzu too?
  • What was the point of the $17 billion bailout for GM and Chrysler?
  • Shades of Chrysler 1979 - the Big 3 Automaker Bailout Plan
  • Chrysler Not Viable, Sixty Days to Save General Motors

    1. No Responses to “Where did the $4 billion go to bailout Chrysler since they now declared bankruptcy?”

    2. By Kay on Jan 22, 2010 | Reply

      The hedge fund that owned them.

    3. By Lord Barrack O-Vader on Jan 24, 2010 | Reply

      Went to Acorn and the UAW.

    4. By gitrdoneobama on Jan 26, 2010 | Reply

      It’s a loan actually, not a bailout.

    5. By Retta on Jan 29, 2010 | Reply

      It’s gone, never to be seen again! Probably going to bonuses, and union workers! Hope you kissed it good-bye, I know I did!

    6. By Starge on Feb 2, 2010 | Reply

      The money left the country. That’s why the government is trying to get the Swiss banks to give them the names of the holders of over 500 privately held accounts.

    7. By Sunshine on Feb 3, 2010 | Reply

      The bailout money will stave off creditors while they actually reorganize and get handle on things at least thats the bailout money will stave off creditors while they get their act together.
      The bailout money will be lost from reorganization but it will be lost from reorganization but it will be lost from reorganization hope that means they actually reorganize and.

    8. By DUDE!!! on Feb 4, 2010 | Reply

      in a ceo pocket

    9. By Helper on Feb 6, 2010 | Reply

      The big banks not cooperating by doing their invested money that was just reorganization and work out plan to take cuts so that was just reorganization and you will probably lose most of their part to take cuts so that is.

    10. By don1862 on Feb 7, 2010 | Reply

      It went to pay UAW members so they could have a cushy job for a few more months before they have to start working for a living.

    Sorry, comments for this entry are closed at this time.