Posted by
Dave on Wednesday, November 19, 2008 9:30:22 AM
The Big Three Automobile Bail Out
I keep on hearing that when the government bailed out Chrysler in the 1970s that Chrysler paid back every dime plus the Government even made money. That looking at Chrysler, the same thing will happen this time. But what nobody wants to remember or have not bothered to look at was that Chrysler had an Ace in the hole. What was this Ace you may ask? The M-1 Abrams Tank! There were two companies bidding for the contract to build the Armies new battle tank one of them was Chrysler. So what happens after Chrysler gets the loan they also get the contract to build the new tank? Then they go and turn around and sell the contract to General Dynamics. Oh and guess what they then pay off the loan. So what I want to know is this, what Ace in the hole do the Auto industry have this time? If none then we the tax payer are in big trouble because with out that Ace in the hole we will never get our money back.