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Wed May 25, 2011
Were the auto bailouts worth it? (poll)
It's your turn to chime in on the auto bailouts - online or on-air.
Today, in the second hour of the public radio call-in program Talk of the Nation, host Neal Conan will ask the question "was the auto industry bail out worth it?"
It will air on Michigan Radio today at 3 p.m.
Here's how the show's producers phrase the question:
When taxpayers bailed out GM and Chrysler, many complained it was waste of money, and not the right role of government. Now, Chrysler pays off the last of its $10 billion loan with interest. After GM paid down billions that it borrowed from the US treasury. The auto industry bail out-- was it worth it? Next Talk of the Nation from NPR News.
Michigan Radio's Sarah Hulett reported that U.S. Treasury Secretary Timothy Geithner recently said the the government will most likely lose money on its investment in the domestic auto industry, but making money on the investments was never the main goal - Geithner said they had two objectives:
"One is to get these companies back in private hands as quickly as we can, it makes no sense for the government to be in there a day longer than is necessary, but we also want to recover as much of the taxpayers’ money as possible."
So what do you think? Were the bailouts worth it?