Originally Posted by retiredcamper47
The breakdown of the Automotive Industry Finance Program
General Motors was awarded a $13.4 billion loan
Chrysler was given a $4 billion loan. These amounts were determined to be the best alternatives for the companies by congress.
Congress decided that the best alternative for Ford was to get funds from the Term Asset-Backed Securities Loan Facility (TALF), which is a government program for auto, student, and other consumer loans. These were very low-cost government loans to the tune of $5.9 billion that helped Ford tip-toe past bankruptcy
and overhaul their factories to bring out more fuel-efficient technology.
Ford Credit borrowed $15.9 billion dollars as opposed to GMAC, GM’s financing arm which borrowed $13.9 billion.
GM paid the money back because the federal government got to effectively run the company until the money was paid back.
Chrysler paid the money back because it was one of the terms of their sale to Fiat.
Ford hasn't paid it back because they have a super low interest rate and they can put the money to better use than paying back the loan.
So even though FORD was never run by the Obama administration, they still owe money to the US taxpayer.