Earlier this week, Senate Democrats quashed an attempt to amend a bankruptcy bill that would have given judges the power to reduce the principal on mortgages of distressed homeowners, swallowing an explanation from the banking industry that reducing the value of mortgages would make it harder for other Americans to get a loan.
Apparently, though, if you’re a car company formerly owned by a private equity firm — and soon to be taken over by a powerful union and an Italian automaker, there are different rules.
As part of the company’s bankruptcy filing, Chrysler LLC will not repay US taxpayers more than $7 billion it received as part of the company’s bailout earlier this year. Instead, the US will get an 8% ownership in a firm whose value continues to deteriorate by the day.
The detail was buried in Chrysler’s bankruptcy filings last week, and overlooked until today. A senior Obama official confirmed the news to CNN.
The Obama Administration’s Treasury Department has agreed to give up the $4 billion “bridge loan” extended by the Bush adminstration, a $300 million fee on the loan, and another $3.2 billion the Obama administration agreed to shell out — last week.
“An Obama administration official confirmed Tuesday that Chrysler won’t be repaying the loans,” CNN writes. A portion of the bridge loan could conceivably be recovered from Chrysler Financial, the firm’s erstwhile credit arm, only that unit is going out of business as well.
“The reality now is that the face value [of the $4 billion bridge loan] will be written off in the bankruptcy process,” an Obama official told CNN, noting the 8% equity stake the US will be receiving.
“While we do not expect a recovery of these funds, we are comfortable that in the totality of the arrangement, the Treasury and the American taxpayer are being fairly compensated,” the official added.
Asked about the plan to take more than $7 billion in taxpayer cash, a Chrysler spokeswoman said very little.
“The content of the document needs to speak for itself,” spokeswoman Lori McTavish said. “We are simply not in a position to comment.”
Chysler could receive billions more in loans the administration says will be paid back. The terms of those “loans” are yet to be determined.
May 6th, 2009 at 3:35 am
Well … there you have it. I swear, the government could not have us by the short hairs any better than this… OK… well they WILL come up with more”solutions” I am sure, to make sure they bancrupt us any way they can. I am thinking that they are more diabolical than any fictional character in a Batman film we’ve seen to date. Joker, Penguin… step aside. We have Tadaaaaaa … NWO!
TheGhost Reply:
May 6th, 2009 at 3:02 pm
Dear: Alex Jones
I am a research scientist in the field of hydrogen technology. A close friend of mine and a fellow scientist introduced me to your radio program. I have been listening to your program for the past year now. I have come to believe you are for the people of this wonderful country of ours, for that reason I would like to tell you my story. I am Blackfoot Sioux Indian from the Browning Res. in Montana. As a child I grew up in a house full of truck drivers my father, my mother, and both my brothers all drive truck. I watched my entire family work themselves to death in a semi. They worked hundreds of hours a week trying just to make ends meet paying for fuel in my father’s business.
In 1990 I was given the Cattell III (A+B) MENSA exam and scored in the top 1% of the populace. My parents were approached by the Department of Defense and my father thought it best if he signed me over to the Federal Government for further studies. I was seventeen at the time when my parents signed me over to be part of project named “Calypso” a government advanced study program at the US School of The America’s Ft. Benning, GA. I was placed with hundreds of other children from many different countries around the world. The testing that was preformed was mostly to find out how our minds functioned and if we could understand advanced technology just by looking at it. I had a special gift in Molecular Physics and could understand the most advanced complex structures used in molecular manipulation and fusion.
Many of us were weeded out of the group and put into smaller study groups and given tasks to perform. In Feb. 1991 I and four others were sworn in at the US Army School of Advanced Military Studies, Fort Leavenworth, Kansas. I was placed in a study group at the Chemical/Bio-Weapons, Scientific Studies, and Research & Development Center there. During this time we were given hand drawn blue prints and documents dating from 1766 from English Physicist and Chemist Henry Cavendish along with blue prints and documents from Nikola Tesla, Don Dingle, Stan Myers, Paul Pantone, and many others. Our team was asked to review these documents and see if any of their theories that existed could be used to design a viable system for military use. Over the course of several years my team designed and retrofitted an on-demand hydrogen production system for use in many pieces of military equipment still in use today.
Later that year I was secretly speaking with Eugene Mallove about some of the systems that we were working on. He was very interested in the processes that our group was developing. At that time he told me about the suppression of technology that was going on. I got very concerned that maybe the technology that I was working on could be used against the ones that I love. I started an information campaign within the groups and was building a team to help get the information out to the public.
The first of my team to be killed was a brilliant engineer in KY 2002. While riding his Harley there another bike with two assailants drove by at high speed and hit him in the head with a club killing him instantly. It would be said that it was from a rival biker gang who mistakenly killed Jamie thinking he was someone else. Two months after this incident I was approached by a black car while running on base at Ft. Campbell, KY they followed me during my entire run and I kept looking back with the thought they were from CID.
On that day my wife and my young son would be picked up at our house in Clarksville, TN and taken to the airport on base and sent back to Malaysia. I filed several petitions trying to get them back and to find out where they were sent to. They had no records or information and no records of them being registered on or off base. The Government revoked my passport and has made me a prisoner in my own country making it impossible to travel. They also made it impossible for me to find work by eliminating all official documents of my being in the service or having a Doctorial Degree in Molecular Physics, outside of going back to them. They made my entire past and I being a real person disappear including SS, DL, and supporting documents of my past experiences. This spooked me as you can imagine and I laid low for awhile hoping to get them back.
I went AWOL in June 2003 after I had exhausted all avenues to get my family back. I was visited in Dec. 2003 in Wisconsin where I felt I was safely hidden from the DOD. I was wrong to think that they would not be able to find me because of my military training and background. They kindly asked me to return to duty or be faced with UCMJ charges. I was told if I played by their rules they would reinstate me and my family could come home. I followed their orders in hopes this would get my life and family back. I would teach Bio-Weapons Defense to DHS through the course of the next year at a MS training center. They still had not returned my family to me and I had spent several months serving their cause. While teaching there in March 2004 I learned of Eugene being murdered in his parent’s rental property. This triggered the thought that I would be next in line.
I finished the course that day with SR and got in my pickup truck and drove away from there not looking back. I got rid of all my credit cards and anything that could be traced back to me. I was trying to get back home to Montana. While I was laid over in a hotel in Sioux Falls, SD, I went next door to a bar that was across the street a band was playing. I drank some and watched the band till the end.
At 1:30am I walked out of the bar and a pickup truck with five guys pulled up next to me tossed a bag over my head throwing me into the bed of the truck. The entire time they hit me with clubs. I don’t know how long it lasted, but when they stopped they drug me out of the truck. I still had the bag over my head one of them shot me in the left side. I heard one of them say that f–ker has got to be dead. They got back into their truck and drove off.
I laid there praying they would not return. I think at that point I passed out for awhile. When I woke up I managed to get the bag off my head I crawled towards a light I could see in the distance. I had managed to crawl to a farm house and banged on the door. When he opened the door to see me laid out on his stoop, he helped me to my feet and he said I was the bloodiest thing he had ever seen in all his years. He wanted to call the police but I begged that he did not in fear they would come back and finish the job. I talked him into taking me to the hotel where I got cleaned up I was still bleeding pretty bad at the time. He told me not to worry and that he would help.
He called a vet friend of his who was another older fellow I could tell they had been friends for a very long time. He said I am not going to ask you any questions, but I need to get you fixed up. They patched me up enough to get me to his clinic where he removed the bullet from my side.
I was starting to wake up from the incident when I got to thinking to myself. How did they know where I was? I asked the man if he had an ultrasound machine and he affirmed that he had. I asked him to look at different places on my body where to my surprise he found two small glass cylinders one imbedded in the back of my skull just under the skin on the left side of my head and the other in between the radius and ulna in my right arm. To this day, I do not know how either one of them got there. He gladly removed them both and destroyed them on the spot. I told the men it would probably be best if they not speak about me or this night to anyone. I left the clinic and got in my truck and drove off. I did not go back home I was afraid that they would somehow find out I was still alive and hurt my family to find me.
I drove until I had no gas left in the truck I was out of money and out of time. The town I stopped in had a carnival playing I walked to the carnival and thought this would be the best place to hide out. I went to work for a show that was at the carnival. They did not ask me for any documents nor did they care if I had any. The owner of show would ask questions about my background all the time saying “I was much too smart to be working for a carnival.”
While at the Alameda County Fair in CA. I ran into a salesman who could not find a booth. I had a booth already and he asked if I would share the space with him. I told him I would. While he ran the booth I worked in my trailer on the designs for a hydrogen unit. I had never given up hope that this technology would get out to the people someday.
I was watching the booth and the salesmen started asking me questions about what I was working on. I decided to share with him the technology and a bit of my life story he was very interested. He said he wanted to help me find the right people to get it out to the public. I did not know at the time that he was Mormon and part of a large Mormon community he introduced me to several men I have grown to trust with my life. In the meantime I have been developing a hydrogen on-demand system for the public.
Alex I am here to tell you I have done it! With the help of some fine people I have finished my revolutionary hydrogen fuel and emissions system. This system can be used in both gas and diesel vehicles, but I have run into a snag. The federal government is back at it again. They have been spreading a fear campaign to stop this technology from getting out. I feel it is my duty to make sure this technology is not shelved or lost forever.
I am surrounded by people at all times from our group for safety reasons. What they have been doing is late night drive by’s and firing guns off near the property I am at. Twice now our group has been shot at while out fishing at a nearby lake. Recently they have been parking themselves next to the research center where we are doing the work at. They have also been taping our cell phones and videoing our comings and goings. They even went as far as going to our lead machinist home while he was at the shop, waking his wife up while she was sleeping, and flashing a badge that she could not read. They proceeded to search around the outside of their property. We suspected they may have tried to plant something they could use for a raid of the facility.
I am afraid that once again I have put my friends and family in the crossfire. This technology could make it possible for people to have their own power source for their cars, trucks, homes, and for this crisis that is quickly coming to a head. I cannot let that happen again.
I am asking you Alex to do a story about this technology. Cover it in one of your video interviews before it is too late and the technology is lost. I will put myself in harm’s way to do a live interview about this technology let you see for yourself the technology in action. People are going to be desperate for energy and this is their answer. This is not about making money hell I will cut you in on sales of the product which you could use to make more movies. I am not in this for the money I am in this to help save mankind and you can ask anyone who knows me if that is not 100% the truth. I would give up all of the money of this technology just to know I helped save a life, even if that life is not my own. I ask you Alex man to man patriot to patriot. You could turn this thing into a huge helping hand for the people. You have the power to make a change for all the people of this once bright country of ours. All you have to do is help bring them into the light of this clean renewable technology.
Please contact me.
TheGhost
P.S. I am sure this not going to sit well with the people in power. This is a last ditch effort on my part as I have sent this letter to your e-mail address several times. I have never received a reply. I hope and pray that by placing this information on your website that you will find it in your heart to reach out to find the truth. Thank You and God bless you for all your efforts.
May 6th, 2009 at 4:25 am
When the money keeps rolling out you don’t keep books.
You can tell you’ve done well by the happy grateful looks.
Accountants only slow things down, figures get in the way -
Never been a lady loved as much as Eva Peron!
May 6th, 2009 at 4:48 am
Gordon Brown did a similar thing when he bailed out bank ‘Northern Rock’, the tax payers pay for it with a proper explanation of why a failed company has to be bailed out and has a part to play in the ecconomy where it has nose-dived.
Golden Parachutes on standby….
:0
May 6th, 2009 at 5:11 am
We the American people, should repay Chrysler and Fiat for this theft of 7 billion dollars, by NEVER buying ONE auto they ever produce.
Somethings should have been allowed to DIE… and America’s auto industry needs to die, along with it’s banks, without the outright theft of the American dream, from the American people by bailouts, handouts, and tarps to cover up the fact that these businesses and banks will never repay one cent of the money they take from the American people. One swipe of the pen, and 7 billion dollars was given, one swipe of the pen in bankruptcy court, and that 7 billion dollars vanished into thin air, never to be repaid.
Anon. of Ibid. Reply:
May 6th, 2009 at 11:47 am
That’s kinda the way the money was made in the first place by the Fed isn’t it?
Skitzo Reply:
May 6th, 2009 at 12:33 pm
“One swipe of the pen, and 7 billion dollars was given, one swipe of the pen in bankruptcy court, and that 7 billion dollars vanished into thin air, never to be repaid.”
the federal reserve can create money out of thin air why cant they make it disappear? the thing is that i as a American taxpayer feel i am not being fairly compensated for this. If I and my fellow man of the USA has to pay this back how are we compensated for this. we don’t get 8% ownage of this company the government does. we the people at this point don’t own the government they own us…
should give everyone a car or something… i don’t know. lol
May 6th, 2009 at 6:33 am
More loans won’t get paid back to government because nobody is really buying cars. If the average American is broke and out of work. Even 900 trillion dollars loans to companies is not going to save this country. They are not let it reach main street but to sit in account to ruin the fake dollar anyways! Let it fall and time to start to shooting!
May 6th, 2009 at 6:35 am
where is the birth certificate ?
May 6th, 2009 at 7:19 am
Canada put 2 billion dollars to”save” Chrystler,on the same deal.The next day,they announce the shut down of a bunch of plants in Canada.
May 6th, 2009 at 7:49 am
Canada put 2 billion dollars to”save” Chrystler,on the same deal.The next day,they announce the shut down of a bunch of plants in Canada.
Oops…forgot to say great post! Looking forward to your next one.
May 6th, 2009 at 8:15 am
I’ve created a youtube channel dedicated to documenting and capturing Alex Jones & Jason Bermas’s funniest and emotional moments. If this is something that interests you, have a walk on down to http://www.youtube.com/thejonesrapport
Hope to see you there. P.S not meaning to spam and be off topic but unfortunately YouTube’s blatent attempts to quell true YouTube content providers makes it difficult to reach my audience.
Classic videos such as Jack Boot Jones and Obama Zombie rants can be found at the channel.
Hilarious stuff, we will also broadcast emergency bulletins as and when needed
We’re aware of the severity of the world situation but everyone needs a place to smile through this Tyranny.
May 6th, 2009 at 8:34 am
ITS NOT SURPRISING HE PUT HIS BILDERBURG BUDDY IN CONTROL OF CHRYSLER WHY WOULDN’T HE WRITE OFF THE LOAN AFTER ALL THE AMERICAN TAX PAYER WILL PAY FOR THIS ONE TOO… THE QUESTION IS WICH OF HIS OTHER BILDERBURG BUDDIES WILL GET G.M.???
May 6th, 2009 at 9:20 am
Haw Ha!
(Best Nelson Voice)
80% of the Citizens here are TV Zombie Sheeple now – soon we will be a Fascist State just like England…
Congratulations Densans!!!!
May 6th, 2009 at 2:26 pm
While we do not expect a recovery of these funds, we are comfortable that in the totality of the arrangement, the Treasury and the American taxpayer are being fairly compensated,” the official added.
Yeah right, fairly compensated, the government owns a large share of most corporations
How come we never see the $$$$ come back into the system?
All we get to see is the budget, and they hide all the assets and profits.
Check out the biggest game in town
http://www.cafr1.com
May 6th, 2009 at 2:30 pm
“Chysler could receive billions more in loans the administration says will be paid back. The terms of those “loans” are yet to be determined”
Even after they declair bankrupcy, more welth will be stolen from we the people and
given to the thieves. What a reward for running a company into the ground.
FEMA camps are not far off now, aka concentration camps.
All together now, HEIL OBAMMY.
ME.
May 6th, 2009 at 5:54 pm
I will never again buy another Chrysler product and will suggest to people they also boysott this worthless has been auto company. GM and Chrysler both need to die! Goodbye and good riddance.
As far as congress is concerned they can all go to hell! Those whores have betrayed working people and will be responsible for the ultimate destruction of the middle class in America.
It’s all over folks. The final betrayal by a treasonous pack of whores who care nothing for the rest of us.
Just keep telling yourselves: “They don’t care about us.”
Good night and good luck. We’re going to need it.
May 6th, 2009 at 9:10 pm
Chrysler to the american people: Yea um sorry bout the last 7 billion, but were good for the next 7 right? We plan on paying this back, we swear!
American Government to Chrysler: Isnt it great bending the citizens over and rammin it up their tail pipe