As for the auto industry, it\u2019s hard to deny that the bailouts aren\u2019t having their desired effect to this point.<\/p>\n
The Treasury said Tuesday that Chrysler, six years ahead of schedule, has repaid $5.1 billion in TARP loans and has also terminated its ability to draw a remaining $2.1 billion in more loans.<\/p>\n
The repayment is expected to save Chrysler $300 million a year in interest payments. The Treasury said the company has already paid $1.5 billion in interest and fees.<\/p>\n
Still, the government, which still holds a 6.6% stake in Chrysler, admits it\u2019s unlikely to fully recover its remaining $1.9 billion investment in Chrysler.<\/p>\n
Breaking even on GM is a long shot as well. The Treasury is expected to start unloading its remaining 26.5% stake this year, but it would have to do it at an average price of about $53 a share. The stock is currently trading below its $33 IPO price.<\/p>\n
In another positive development, GM, after years of wrenching cutbacks, said earlier this month it will invest about $2 billion in 17 plants across eight states in a move that will add or save more than 4,000 jobs. <\/a><\/p>\n","protected":false},"excerpt":{"rendered":" As for the auto industry, it\u2019s hard to deny that the bailouts aren\u2019t having their desired effect to this point. The Treasury said Tuesday that Chrysler, six years ahead of schedule, has repaid $5.1 billion in TARP loans and has also terminated its ability to draw a remaining $2.1 billion in more loans. The repayment […]<\/p>\n","protected":false},"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1428],"tags":[],"class_list":["post-39478","post","type-post","status-publish","format-standard","hentry","category-politics-2"],"_links":{"self":[{"href":"https:\/\/friendburst.com\/blog-new\/wp-json\/wp\/v2\/posts\/39478","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/friendburst.com\/blog-new\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/friendburst.com\/blog-new\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/friendburst.com\/blog-new\/wp-json\/wp\/v2\/comments?post=39478"}],"version-history":[{"count":0,"href":"https:\/\/friendburst.com\/blog-new\/wp-json\/wp\/v2\/posts\/39478\/revisions"}],"wp:attachment":[{"href":"https:\/\/friendburst.com\/blog-new\/wp-json\/wp\/v2\/media?parent=39478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/friendburst.com\/blog-new\/wp-json\/wp\/v2\/categories?post=39478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/friendburst.com\/blog-new\/wp-json\/wp\/v2\/tags?post=39478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}