Thursday, July 21, 2011

Fuzzy Math

Today Chrysler (whom you loaned $12 + billion) and the US Treasury announced that the remaining shares of U.S. held stock were sold to Fiat. This buyout resulted in a net loss of $1.2 Billion in tax payer money (and a U.S. owned Company being exported to another country... the avoidance of which was the very purpose of the loan in the first place). That means, we're like $1.2 BILLION in the red... we "loaned" (read "gave") them a ton of money and 1.2 BILLION U.S. TAX DOLLARS, Yes, BILLION, was lost. Soo, how did the US Treasury react to this not-so-great news? Well, the Treasury called it a "major accomplishment." If that is the standard for major accomplishments, my student debt is one heck of an accomplishment. I deserve national recognition for it. Probably a Nobel Peace Prize or something.

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