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> Note that the government didn't "bail out" Ford either: OK sure. The government gave a private company taxpayer money that didn't need it so it's profits wou

by grecy 7y ago

> Note that the government didn't "bail out" Ford either: OK sure. The government gave a private company taxpayer money that didn't need it so it's profits wouldn't suffer. > I can't find anything about the $10B that won't be repaid. Do you have further details? Last sentance in the first paragraph of my link says "In the end, taxpayers lost $10.2 billion." (with a footnote to [0]) [0] https://www.treasury.gov/initiatives/financial-stability/TARP-Programs/automotive-programs/pages/default.aspx https://www.treasury.gov/initiatives/financial-stability/TAR...

nl 7y ago
>> Note that the government didn't "bail out" Ford either: > OK sure. The government gave a private company taxpayer money that didn't need it so it's profits wouldn't suffer. Agreed. Same as Tesla (in your words: "The government did not "bail out Tesla". They lent them $465 million, and Tesla paid it all back, plus interest, ten years before it was due.") > Last sentance in the first paragraph of my link says "In the end, taxpayers lost $10.2 billion." (with a footnote to [0]) Thanks. Ironically that reference says "While the auto industry rescue resulted in a cost of $9.3 billion to the government". I guess maybe they are correcting for inflation?
- grecy 7y ago
  > Agreed. Same as Tesla (in your words: "The government did not "bail out Tesla". They lent them $465 million, and Tesla paid it all back, plus interest, ten years before it was due.") No, not the same at all. One was a loan (which was paid back plus interest), while the other was a gift that will never be paid back.
  - nl 7y ago
    > No, not the same at all. One was a loan (which was paid back plus interest), while the other was a gift that will never be paid back. From your linked article: On June 23, 2009, Ford received a $5.9 billion loan from the Energy Department's Advanced Technology Vehicles Manufacturing program.... Ford will repay this loan by 2022. (Note "loan".. "repay").

by grecy 7y ago

nl 7y ago

>> Note that the government didn't "bail out" Ford either: > OK sure. The government gave a private company taxpayer money that didn't need it so it's profits wouldn't suffer. Agreed. Same as Tesla (in your words: "The government did not "bail out Tesla". They lent them $465 million, and Tesla paid it all back, plus interest, ten years before it was due.") > Last sentance in the first paragraph of my link says "In the end, taxpayers lost $10.2 billion." (with a footnote to [0]) Thanks. Ironically that reference says "While the auto industry rescue resulted in a cost of $9.3 billion to the government". I guess maybe they are correcting for inflation?

grecy 7y ago
> Agreed. Same as Tesla (in your words: "The government did not "bail out Tesla". They lent them $465 million, and Tesla paid it all back, plus interest, ten years before it was due.") No, not the same at all. One was a loan (which was paid back plus interest), while the other was a gift that will never be paid back.
- nl 7y ago
  > No, not the same at all. One was a loan (which was paid back plus interest), while the other was a gift that will never be paid back. From your linked article: On June 23, 2009, Ford received a $5.9 billion loan from the Energy Department's Advanced Technology Vehicles Manufacturing program.... Ford will repay this loan by 2022. (Note "loan".. "repay").