To: tejek who wrote (613247 ) 5/27/2011 9:32:01 AM From: Brumar89 Read Replies (1) | Respond to It was Mickey Kaus at the Daily Caller and Edward Niedemeyer at The Truth About Cars and Ron Bloom, Obama's car czar, who pointed out Chrysler hadn't really paid back all the money loaned them:dailycaller.com thetruthaboutcars.com that had been loaned less than two years ago. [Emphasis added] Ron Bloom, the White House’s defacto “car czar” to admit that Chrysler’s “payback” amounted to only 85% of the “total money loaned to Chrysler.” That math works out to the conclusion that Chrysler failed to pay back about $2b… which is as technically true as Marchionne’s “every penny that had been loaned less than two years ago” line. It does, however, fail to account (again) for the $1.9b Debtor-in-Posession “loan” which financed Chrysler during bankruptcy and was conveniently left to die with the remains of “Old Chrysler.” Nor does it account for the $1.5b loaned to Chrysler’s suppliers to keep them afloat amidst the bailout chaos. Meanwhile, the $1.9b Chrysler that Bloom admits Chrysler still “owes” the taxpayers is covered by a 6.6% stake in Chrysler’s equity, which isn’t likely to cover that loss when Chrysler eventually launches an IPO… and the DIP loan and supplier aid are irrevocably lost. According to the Treasury’s release:
