Wednesday, May 6, 2009

Chrysler Won't Pay Back U.S. Loans

Taxpayers may never get back billions of dollars lent to Chrysler, according to various reports. Testifying in bankruptcy court on Monday, one of the top financial advisers overseeing Chrysler's restructuring said the U.S. government may never get back its loans to the company. "They're offering financing with a low likelihood of being repaid," said Robert Manzo, an executive director for Capstone Advisory Group LLC, according to the Associated Press. more

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