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Keyword: taxpayersbailout

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  • Chrysler won't repay bailout money

    05/05/2009 3:16:34 PM PDT · by Oldeconomybuyer · 36 replies · 2,138+ views
    CNN.com ^ | May 5, 2009 | By Chris Isidore
    An administration official confirms that a $4 billion bridge loan and $3.2 billion in bankruptcy financing won't be paid back by Chrysler following bankruptcy. NEW YORK (CNNMoney.com) -- Chrysler LLC will not repay U.S. taxpayers more than $7 billion in bailout money it received earlier this year and as part of its bankruptcy filing. This revelation was buried within Chrysler's bankruptcy filings last week and confirmed by the Obama administration Tuesday. The filings included a list of business assumptions from one of the company's key financial advisors in the bankruptcy case. Some of the main assumptions listed by Robert Manzo...