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Friday, June 3, 2011

The Truth about Chrysler

Before anyone celebrates the alleged happy ending to the Chrysler bailout, he or she might want to read this. Spoiler alert:

So, to recap, the Obama Energy Department is loaning a foreign car company $3.5 billion so that it can pay the Treasury Department $7.6 billion even though American taxpayers spent $13 billion to save an American car company that is currently only worth $5 billion.

HT: Shikha Dalmia

  • Sheldon Richman is the former editor of The Freeman and a contributor to The Concise Encyclopedia of Economics. He is the author of Separating School and State: How to Liberate America's Families and thousands of articles.