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Thread: UAW Bailout Leads to Huge Losses

  1. #1
    tsquare's Avatar
    tsquare is offline Moderator
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    UAW Bailout Leads to Huge Losses

    Having fun in this... the new normal?

    Enjoying the work more (if you can get a job) and paid less?

    Well... you just need a lackly in the White House!

    The Treasury Department said Monday it will lose $1.6 billion on a loan made to Chrysler in early 2009.

    Taxpayer losses from bailing out Chrysler and General Motors are expected to rise as high as $34 billion, congressional auditors have said.
    Treasury takes $1.6B loss on Chrysler loan - STLtoday.com

    All done for the express purpose of 'protecting' the union thugs. Money down the (union) rat hole.

    Enjoy...

  2. #2
    Machjo Guest

    Re: UAW Bailout Leads to Huge Losses

    You don't bail out the buggy industry when it's outdated. You retrain laid-off workers for the new and growing industries, and let the buggy industry fall so as to make way for the new industries.

    The bail out of the auto industry was essentially a bail out of the old buggy industry, and it will fall again come next recession.

    That was a lost opportunity.

  3. #3
    chassisman's Avatar
    chassisman is offline Legend of USPO
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    Re: UAW Bailout Leads to Huge Losses

    Quote Originally Posted by tsquare View Post
    Having fun in this... the new normal?

    Enjoying the work more (if you can get a job) and paid less?

    Well... you just need a lackly in the White House!



    Treasury takes $1.6B loss on Chrysler loan - STLtoday.com

    All done for the express purpose of 'protecting' the union thugs. Money down the (union) rat hole.

    Enjoy...
    You say thugs, Obama sez votes.
    Take a good hard look, it's coming.

  4. #4
    skeptic1 is offline Secretary of Defense
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    Re: UAW Bailout Leads to Huge Losses

    Quote Originally Posted by chassisman View Post
    You say thugs, Obama sez votes.
    One is worth "only" what one can command.
    Laws are purchased-Justice with blood.

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