Monday, May 17, 2010

Taxpayers take $1.6 billion loss on Chrysler loan

Losses from the taxpayer bailout of the UAW are beginning to pile up. The Treasury Department has announced taxpayers will take a $1.9 billion loss on a Chrysler loan. Total lossses may add up to as much as $34 billion.


Taxpayer losses from bailing out Chrysler and General Motors are expected to rise as high as $34 billion, congressional auditors have said.

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