Obama 'Car Czar' Defends Auto Bailout In Dealers' $1B Suit

Rattner was a key government witness in a decade-old, $1 billion lawsuit by car dealers who got cut from their contracts in the bankruptcy and bailout as Chrysler sought to trim what Treasury …

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Obama 'Car Czar' Defends Auto Bailout In Dealers' $1B Suit

2 weeks from now

Rattner was a key government witness in a decade-old, $1 billion lawsuit by car dealers who got cut from their contracts in the bankruptcy and bailout as Chrysler sought to trim what Treasury …

dealerlaw.com

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Auto Bailout Cheated Car Dealers Out Of $1B, Judge Hears

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Taxpayers owe hundreds of Chrysler and General Motors dealers roughly $1 billion to compensate for pulling the rug out from under them during the unprecedented auto industry …

law360.com

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Auto Bailout Cheated Car Dealers Out Of $1B, Judge Hears

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Taxpayers owe hundreds of Chrysler and General Motors dealers roughly $1 billion to compensate for pulling the rug out from under them during the unprecedented auto industry …

law360.co.uk

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Dealership Forced To Pay Out $40m After Abruptly Closing 39 …

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Jan 6, 2025 · A DISGRACED dealership has been ordered to pay out $42.6 million for taking back cars from buyers and never giving refunds.US Auto Sales stole million. Jump directly to the …

the-sun.com

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Chrysler Dealers Can't Tie Feds, Auto Bailout To $1B In Losses

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Chrysler Dealers Can't Tie Feds, Auto Bailout To $1B In Losses. By Ryan Boysen. Law360 (October 3, 2019, 9:44 PM EDT) -- Hundreds of Chrysler dealers who were devastated when …

law360.com

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Obama 'Car Czar' Defends Auto Bailout In Dealers' $1B Suit

2 weeks from now

Chrysler made its own decision to declare bankruptcy and accept a multibillion-dollar federal bailout in 2009, so the government can't be blamed for the booting of hundreds of auto dealers …

law360.co.uk

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Bankrupt Used-car Dealer Must Pay Millions In Penalties, Judge …

2 weeks from now

6 days ago · No sale:Used-car chain closes all locations, including in the Augusta area. The judgment calls for $25.5 million in compensatory damages, a $10 million civil penalty, $5.8 …

augustachronicle.com

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Obama 'Car Czar' Defends Auto Bailout In Dealers' $1B Suit

2 weeks from now

Chrysler made its own decision to declare bankruptcy and accept a multibillion-dollar federal bailout in 2009, so the government can't be blamed for the booting of hundreds of auto dealers …

law360.com

FAQs about Obama 'Car Czar' Defends Auto Bailout In Dealers' $1B Suit Coupon?

Why did automakers want a $14 billion bailout?

With the economy already reeling from the financial crisis, the automakers insisted, the shock of massive auto-industry layoffs would be too much to take. On December 11, 2008, the House of Representatives buckled under the automakers' demands, voting (largely along party lines) in favor of a $14 billion bailout. ...

Are GM and Chrysler bailouts a success story?

The bailouts of General Motors and Chrysler have been held up by President Obama and his supporters as a great success story — proof that, by working together, government and business can save jobs and strengthen the economy. But this popular narrative is dangerously misleading. ...

Was the auto bailout a success story?

STATE CAPITALISM Every piece of the "success story" of the auto bailout would thus seem to be in error. The bailout was not absolutely necessary and was pursued by means of dubious legality; the bankruptcies were highly irregular and inefficient; and the companies that have emerged from bankruptcy are far from lean and fit. ...

Did Congress ever vote for a federal bailout of the automobile industry?

A group of 26 irate Republican lawmakers sent a sharp letter to the president complaining that "Congress never voted for a federal bailout of the automobile industry, and the only way for TARP funds to be diverted to domestic automakers is with explicit congressional approval." ...

What would happen if GM didn't get a bailout?

In the absence of a bailout, GM and Chrysler would each have been forced to file for bankruptcy like any other company in their circumstances. It is possible that Chrysler would have then faced liquidation (though even this is questionable, given the value of its assets and its brands). ...

Why do we need auto bailouts?

The auto bailouts exemplify this new reality. Sold as a means of revitalizing the economy, they are in fact a means of transforming the relationship between the state and the market in a way that empowers large players at the cost of economic growth. ...