There’s some very delicate phrasing in Timothy Geithner’s recent talk about “looking forward to the full repayment of our loan to [Chrysler]”. By “our loan” he doesn’t mean all of our loans to Chrysler. He means one of our loans to Chrysler — the $7.1 billion loan that we’re still hoping to see paid back. The other loans, on which we’ve lost a combined $3.5 billion, that money is gone for good.
(Via Kaus Files.)
POSTSCRIPT: I wasn’t able to locate the document that The Truth About Cars shows in the link above, but the Congressional report on the auto bailout has the same information on page 52.