In a Socialist milieu

Wonderful news  from OZ, yes that neat place in Maryland, where all laws are suspended except the one on Gravity.

That law confounds them.

Read this note of economic cheer from the Castle of the Audacious Hope, surrounded by the moat of I-495. Change Auto to Health Care!

Taxpayers face heavy losses on auto bailout

Taxpayers face losses on a significant portion of the $81 billion in government aid provided to the auto industry, an oversight panel said in a report to be released Wednesday.

The Congressional Oversight Panel did not provide an estimate of the projected loss in its latest monthly report on the $700 billion Troubled Asset Relief Program. But it said most of the $23 billion initially provided to General Motors Corp. and Chrysler LLC late last year is unlikely to be repaid. [snip]
The shares “will have to appreciate sharply” for taxpayers to get their money back, the report said.

For example, GM’s market value would have to reach $67.6 billion, the report said, a “highly optimistic” estimate and more than the $57.2 billion GM was worth at the height of its share value in April 2008. And in the case of Chrysler, about $5.4 billion of the $14.3 billion provided to the company is “highly unlikely” to ever be repaid, the panel said. [snip]

“We are not trying to be Warren Buffett here. We are not trying to squeeze every last dollar out,” Steve Rattner, who led the administration’s auto task force, said before his departure in July. “We do want to do well for the taxpayers but the most important thing is to get the government out of the car business.” [snip]

This is not the same as getting the TAXPAYERS OUT OF THE CAR BUSINESS!
As Byzantine as Vermont economics.