All the Numbers, Huge Numbers

18 09 2009

gm-auto-industry-BZ02-vl-verticalDid you know that the taxpayers of this country have lost a big portion of the $81 billion in government aid provided to the auto industry? Just take a minute to digest the figure $81 BILLION. I cannot even imagine a figure that large. Most of the $23 billion initially provided to General Motors and Chrysler last year is UNLIKELY to be repaid. Now, just take a minute to digest that too. What would happen in your life if you could not repay what was loaned to you.

According to the report put out by the Congressional Oversight Panel, the prospect of recovering the government’s money is dependent on shares of the two companies rising to levels unheard of before. Think about that one, too. Obviously, our Congressional Oversight Panel already knew this when the Congress voted to give the administration all that ‘supposed to be repaid’ aid  money.

Remember, when this was being crammed down the taxpayer’s throats that we were told this money would be repaid – just any day now. Sort of like ‘your check is in the mail already’.

Instead, now we hear that in order for this money to be repaid to the taxpayers, the shares of stock in GM and Chrysler will have to increase in value. Like that is going to happen any time soon.

I know I would not put my money in shares like that.  Not while the government still owns a big portion of those companies. Right now, the government – which is you, you know – owns 10 percent of Chrysler and 61 percent of GM. Think about those figures for awhile, too. Enough to just ruin your day!

And now, to quote ‘shares will have to appreciate sharply’. Oh my, can you believe that one?

In order for us to be repaid, GM’s market value will have to reach $67.6 BILLION, which is more than the $57.2 BILLION GM was worth at its height. Fat chance of that!

And with Chrysler, about $5.4 billion of the $14.3 billion provided is highly unlikely to EVER be repaid.

I assume someone knew all this from the beginning. Could it have been our Congressmen again? Makes you wonder who’s running the store.

Must be someone who never learned to count!

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