WHY IS IT

WHY IS IT
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Mon, 10/29/2018 - 10:58

Chrysler gets let off the hook

1

Chrysler owes us $2.6 billion but the feds have decided to let it slide. The Liberal government won't make the company pay back all they owe us from the bailout they got from us after the 2008 world economic meltdown.

Chrysler owes us $2.6 billion but the feds have decided to let it slide. The Liberal government won't make the company pay back all they owe us from the bailout they got from us after the 2008 world economic meltdown.

That means every one of us—every man, woman and child in Canada—will give a $75 gift to one of the richest corporations in the world.

New money vs. old money

"Old Chrysler" went into bankruptcy—but a "New Chrysler" reported net profits of $4.3 billion US for 2017. Some tricky accounting allows New Chrysler to keep all its profits and forget about paying back what Old Chrysler owes.

But, we’re still on the hook

All of us could use the same kind of break. None of us rake in billions in profits every year. Plus, we are the ones who bankrolled the loans to Chrysler to begin with. That should earn us something. Something we could take to the bank!

 


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