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Now That's A Loss!

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May 18, 2010 – Comments (0)

Not that we weren't expecting this, but I believe this portends a slew of news yet to come on this whole auto bailout:

http://news.yahoo.com/s/ap/20100517/ap_on_bi_ge/us_chrysler_repayment_5

I swear I cannot even look at a Chrysler on the road, much less a GM.  At least Toyota is able to get themselves out of their own mess...I am not anti-American vehicle, so save it.  But man what a mess they have created.

What will be interesting to see is how long it takes for the loans made for the "cash for clunkers" start defaulting.  Certainly it would be a much smaller scale type of thing. But still, don't you think that a lot of those folks felt a "responsibility" to buy a new car?  That they were doing something "patriotic"?  Hhhhhhmmmmmmmmmmmmmmm...............

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