Comment on Why Americans Can’t Buy the World’s Best Electric Car
LovableSidekick@lemmy.world 4 days agoTo clarify, the bailouts of US car companies were Chrysler around 1980 and GM and Chrysler around 2008. To help them avoid bankruptcy and the resulting loss of jobs, they received loan guarantees (like having a cosigner) and direct loans, all of which they paid back. I think the public generally has a misconception that a corporate “bailout” means they just get money, but it’s not.
Note - I’m not trying to convince you not to hate corporations, and there’s no need for a lecture on how evil they are. Just clarifying that one topic.
Burninator05@lemmy.world 4 days ago
The program started under W and ended under Obama and I think at the end the government actually made money off the deal.
Don’t confuse this with the COVID PPP loans that were given out by Trump, forgiven by Trump, and then had a lot of the records about them destroyed by Trump.
LovableSidekick@lemmy.world 4 days ago
No confusion at all, I was talking about car company bailouts only, since the other person mentioned “all the bailouts US car manufacturers received”. I think the Bush/Obama thing you’re referring to was TARP, which was for financial institutions.