www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

WORLD> America
US unlikely to recoup auto bailout: Panel
(Agencies)
Updated: 2009-09-10 15:46

US unlikely to recoup auto bailout: Panel
Used vehicles sit in the sales lot of Arnold Motor Sales, a family-run used car dealership in Superior, Arizona September 9, 2009. [Agencies]

US should weigh trust for GM, Chrysler stake-panel

WASHINGTON: US taxpayers will not likely recoup their nearly $65 billion investment in General Motors Co and Chrysler, a congressional watchdog found on Wednesday. The payout included bankruptcy financing at both automakers this year.

A report by the Congressional Oversight Panel for the Troubled Asset Relief Program (TARP) also supported the US government should consider a trust for its stake in the auto companies to ensure independent oversight and facilitate an exit strategy.

Related readings:
US unlikely to recoup auto bailout: Panel New GM emerges, exits bankruptcy
US unlikely to recoup auto bailout: Panel GM to drop corporate logo from vehicles
US unlikely to recoup auto bailout: Panel Chrysler's cash burn has been slowing since bankruptcy filing, CEO says
US unlikely to recoup auto bailout: Panel Chrysler sale gets the green light

US unlikely to recoup auto bailout: Panel US judge approves sale of GM assets

"The ultimate recovery on this investment will depend on what those companies are worth," said Elizabeth Warren, a Harvard Law School professor who chairs the TARP panel that issues monthly reports on the $700 billion bailout program.

TARP funds were first extended to the financial sector and then to autos.

The government holds a 60 percent stake in GM and 8 percent of Chrysler. Since January, the Treasury Department, through the government's autos task force, has invested more than $50 billion in GM and $14 billion in Chrysler.

The Treasury Department has said it plans to sell the shares in initial public offerings as soon as 2010 for GM and later for Chrysler. The government, which has appointed several board members at both companies, has promised to stay out of management affairs.

But the panel noted that the Treasury Department may make decisions that affect industry. Warren told Reuters Financial Television a trust would be preferable to protect the investment from any political interference and effectively manage an exit.

"No matter how much Treasury says, 'We're not going to get involved,' there's going to be a question on when to sell those shares. That's an investment decision. Leave it to investment professionals," Warren said.

Treasury officials said they are committed to managing the investment in a "commercial manner" and a trust may violate federal law in the case of carmakers.

"It's unclear that the recommendation would be an improvement," they said.

The report also said there were "significant obstacles" to GM and Chrysler achieving the "level of profitability" that would permit return of the entire taxpayer investment.

It is also unclear whether GM and Chrysler will have to borrow from private markets, and analysts have said their performance would have to exceed levels not seen in years.

"The automotive sector in the United States is risky and these companies have a legacy of failure," the report said about repayment. "Treasury's best estimates are that some significant portion of those funds will never be recovered."

GM said in statement that it was confident it would repay the government because it has reduced debt, and has a stronger balance sheet and a competitive product mix.

Chrysler had no comment on the findings.

A proposal by Sens. Bob Corker, a Republican, and Mark Warner, a Democrat, would require a trust for any TARP-ownership stake exceeding 20 percent.

Shares related to the $80 billion US bailout of American International Group in 2008 have been placed in trust.

主站蜘蛛池模板: a级成人毛片久久 | 在线观看亚洲免费视频 | 午夜在线视频一区二区三区 | 色网址在线 | 久久在线免费观看视频 | 欧美一区二 | 天天拍拍夜夜出水 | 亚洲成人免费在线视频 | 国产日本三级欧美三级妇三级四 | 久久久久欧美国产精品 | 丝袜美腿在线不卡视频播放 | 欧美成人aaa大片 | 国产大片在线观看 | cao在线视频 | 中文字幕欧美一区 | 中美日韩在线网免费毛片视频 | 免费看裸色 | 色哟哟国产成人精品 | 一本久 | 国产人成精品综合欧美成人 | 免费国产成人午夜在线观看 | 中国一级特黄剌激爽毛片 | 67194欧美成l人在线观看免费 | 一级毛片免费在线观看网站 | 男女交性拍拍拍高清视频 | 亚洲免费中文 | 国产精品99r8在线观看 | 中文在线日韩 | 亚洲一区二区三区免费视频 | 国产高清精品一级毛片 | 欧美一区二区三区免费 | 日本午夜人成免费视频 | 久久久久久亚洲精品中文字幕 | 99国产精品久久久久久久... | 性日韩精品 | 国产国语高清在线视频二区 | 久久不见久久见免费影院www日本 | 欧美日韩一区二区三区高清不卡 | 日韩视频国产 | 一级性片 | 黄色a免费 |