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Tuesday, November 3, 2009

GAO also discovers that Easter Bunny is a hoax; Santa Claus in doubt

The Governerment Accountability Office has come to the stunning conclusion that taxpayers won't be getting their money back from the automotice bailout.
Taxpayers are unlikely to recover their full investment in General Motors or Chrysler, government investigators said Monday in the latest review to cast doubts that the government will recoup the $80 billion it poured into the two automakers.

The Government Accountability Office concluded that General Motors Co. and Chrysler Group LLC likely won't be valuable enough for the Treasury Department to break even on its investment in the two auto companies that went though bankruptcy earlier this year.

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