The Political Environment: Obama Saved Now-Profitable Chrysler: Romney/Bain Would Have Cannibalized, Closed It

Wednesday, February 1, 2012

Advantage Obama.

Ron R said...: Yes, he invested billions in taxpayer money and got back peanuts. He's a genius.; February 1, 2012 at 6:35 PM
James Rowen said...: What is the value of the Chrysler and GM jobs to MI and the national economy?; February 1, 2012 at 8:32 PM
Max B said...: It's my understanding the money has been repaid. What do we know for certain before we start talking in terms of billions and peanuts?

This doesn't include, as James points out, the value of Chrysler and GM jobs to MI and the national economy. And, I would add, after-market jobs and secondary local economy jobs.; February 1, 2012 at 10:13 PM
zombie rotten mcdonald said...: The estimates I recall were that follow-on and related jobs were equal to double the size of the actual GM/ Chrysler jobs that were saved.

And Max, you are correct that the money has been repaid, years ahead of schedule. So I think what RR is claiming, is that the interest and fees netted were smaller than originally agreed. The money and interest has been paid, though, and there was no loss to the taxpayer as Ron up there so clearly wants to imply.

And unlike banks, Obama's arrangement was not set up with cascading and punitive fees for early payment. I am sure if BoA or Bain Cap had set it up, they would have made a lot more money while driving the corporations deeper into debt and finally killing them off, at further profit.; February 2, 2012 at 12:31 PM