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>Just remember that the Federal government ended up making money on the automaker ... The estimates I've read are that the federal government lost between 9 an
by opo 7y ago
>Just remember that the Federal government ended up making money on the automaker ...
The estimates I've read are that the federal government lost between 9 and 10 billion on the automaker bailouts.
For example:
>...In the end, taxpayers lost $10.2 billion.
https://www.thebalance.com/auto-industry-bailout-gm-ford-chrysler-3305670 https://www.thebalance.com/auto-industry-bailout-gm-ford-chr...
>...the U.S. recovered all but about $9 billion of the auto bailout money.
https://www.marketplace.org/2018/11/13/what-did-america-buy-auto-bailout-and-was-it-worth-it/ https://www.marketplace.org/2018/11/13/what-did-america-buy-...
>...(quite apart from all the jobs that were saved).
Yea without the bailout, there would likely have been more job losses as consolidation occurred in the industry.
- ceejayoz 7y agoThe automaker bailouts were part of a much larger overall program, that did make a minimal profit. https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program > TARP recovered funds totalling $441.7 billion from $426.4 billion invested, earning a $15.3 billion profit or an annualized rate of return of 0.6% and perhaps a loss when adjusted for inflation.
- basch 7y agoAltogether, accounting for both the TARP and the Fannie and Freddie bailout, $634B has gone out the door. Money has been coming back in two ways: $390B of principal has been repaid, and the Treasury has collected revenue from its investments of $364B. In total, the government has realized a $121B profit as of March 19, 2020.
- basch 7y agoLuckily they diversified their bailouts, and made $121B so far. https://projects.propublica.org/bailout/ https://projects.propublica.org/bailout/