Taxpayers to Lose $15 Billion on Auto Industry Bailout; WH Praises Results

Only in Obamaville is a 18% LOSS on an investment “far better than anyone could have dreamed…” I betcha Wile E. Obama and the rest of the ACME Economic Destruction Co. are busy thinking up more ways to invest our money for such great returns.

The Treasury estimates taxpayers will have lost $15 billion on their $85 billion auto industry bailout, which also included aid to bankrupt Chrysler. Auburn Hills-based Chrysler has repaid its debt.

Gene Sperling, the White House National Economic Council adviser, said the bailout β€œhas turned out far better than anyone could have dreamed of β€” not only in terms of job creation and the economy and manufacturing, but in terms of those companies and their suppliers being poised to increase and take market share.”

via Treasury begins sale of final 101M GM shares | The Detroit News.

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