White House promotes auto bailouts, cites paybacks (AP) – 1805th Edition

2 06 2011

In this May 24, 2011 photo, 2011 Chrysler 200 vehicles are seen on the assembly line at the Sterling Heights Assembly Plant in Sterling Heights, Mich. Chrysler Group LLC said Wednesday, June 1, 2011, its May U.S. car and truck sales rose 10 percent over the same month last year on strong sales of Jeeps and the revamped Chrysler 200 midsize car. (AP Photo/Carlos Osorio)AP – Taxpayers will lose about $14 billion in the government’s $80 billion bailout of Chrysler and GM, the White House said Wednesday, portraying the outcome as good news since the losses are far lower than originally anticipated.

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