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The Great Italian Auto Bailout — Courtesy of U.S. Taxpayers


Strictly Street

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At the beginning of 2014, Detroit may be bankrupt, but they’re cheering the five-year-old U.S. auto bailout in Italy. That’s because after being the beneficiary of billions in U.S. taxpayer largesse, Fiat, the leading Italian auto company, is going to buy its final stake in Chrysler from that other big bailout recipient, the United Auto Workers (UAW).

 

“Chrysler’s Now Fully an Italian Auto Company,” reads the Time magazine online headline. But wait a minute! Wasn’t the bailout supposed to be about saving the American auto industry?

 

http://www.openmarket.org/2014/01/01/the-great-italian-auto-bailout-courtesy-of-u-s-taxpayers/

 

Don't even know where to start with this one. But I still want my money back. I think I've been robbed.

 

 

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The only people to get fucked was the Germans. Bought them and sold them for a 20 billion dollar loss in under 10 years. Saving factory jobs in America is/was a good thing even if I don't buy American cars since the 80's. There has to be larger issues in your life than this. No?

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Thought Chrysler paid there loan back. I remember the writer bitching about the massive loss the US was taking because it was repaid early.

So Fiat buys and repays bail out for Chrysler. Then buys out UAW so they have full claim to the brand. I see nothing wrong here.

Looks like my German engineered Dodge Magnum is a sexy Italian now too.

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The only people to get fucked was the Germans. Bought them and sold them for a 20 billion dollar loss in under 10 years. Saving factory jobs in America is/was a good thing even if I don't buy American cars since the 80's. There has to be larger issues in your life than this. No?

 

When did the Germans get into this? That was a done deal by the time the bailout was done.

Edited by Strictly Street
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When did the Germans get into this? That was a done deal by the time the bailout was done.

 

I think the German influence on the designs is still there, but the German control of the company is long gone.

 

I still wonder what the auto industry would be like now if cash for clunkers had not happened?  Especially the auto repair side of things.

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