How do you make a Fiat go faster? You tell the tow truck driver to speed up.
What’s a Fiat on top of a hill? A miracle. What are two Fiats on top of a hill? Science Fiction. What are three Fiats on top of a hill? A strange place for a Fiat factory.
Joking aside, we lost 1.5 billion to save a U.S. car company that is an Italian car company, but we can’t find 3 billion to pay our military if the debt ceiling isn’t raised. Nothing against Italian car companies but this was supposed to be about saving U.S. car companies.
NEW YORK (CNNMoney) — U.S. taxpayers likely lost $1.3 billion in the government bailout of Chrysler, the Treasury Department announced Thursday.
The government recently sold its remaining 6% stake in the company to Italian automaker Fiat, wrapping up the 2009 bailout that was part of the Troubled Asset Relief Program, six years early.
Fiat paid the Treasury a total of $560 million for the remaining shares, as well as rights to shares held by the United Auto Workers retiree trust. Fiat now owns a 53.5% stake in the company. Read here: Wasting taxpayer dollars