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To: Travis_Bickle who wrote (199807)	5/3/2009 11:03:00 AM
From: Think4Yourself	Respond to of 306849

This whole automaker thing is kind of ironic and would be funny if I weren't a citizen of this country. Senator Shelby and many taxpayers were demanding the government let the automakers go bankrupt when they were asking for a $17B bridge loan last fall. Those people didn't want the companies possibly coming back for more to get them through to this fall when the legacy costs were going away. If anyone takes a real close look at what has happened with the bankruptcy, one thing will become clear. The taxpayers and Shelby got what they wanted and one party got reamed for ALL of the losses. That party is the taxpayer. TALF and other programs covers the bank losses. AIG (i.e. the government) will cover the bondholder losses. All the taxpayer money put into the automakers is basically unrecoverable in bankruptcy court. The taxpayers are going to put another 8 billion into Chrysler alone. The taxpaying workers had to give up things to potentially continue to have jobs. The last major manufacturing operation in this country is severely damaged. the taxpayers will also most likely get saddled with a bunch of the retirement benefit obligations. Congratulations to all the people who wanted to see the automakers go bankrupt. Hope you are enjoying your "victory" because it was ridiculously expensive. You are going to get your way with GM too. That will probably end up costing another $20B on top of what has already been thrown away.