Thursday, May 07, 2009

Taxpayers take another screwing from our American Idol PrezBo

You knew this one was coming. Chrysler is not going to repay the taxpayers more than $7 billion it received in the form of a bailout. It has been confirmed with the Obama administration that this is included as part of its bankruptcy filing.

So there you go. Not only do secured creditors get the hind teat ... but so do the taxpayers. Who gets the front? The very union workers who helped destroy the American automobile industry. How wonderful. That's $7 billion ... gone. Poof. Never to be seen again by you or your children or grandchildren.