this post was submitted on 04 Mar 2026
378 points (97.5% liked)
Technology
82250 readers
3856 users here now
This is a most excellent place for technology news and articles.
Our Rules
- Follow the lemmy.world rules.
- Only tech related news or articles.
- Be excellent to each other!
- Mod approved content bots can post up to 10 articles per day.
- Threads asking for personal tech support may be deleted.
- Politics threads may be removed.
- No memes allowed as posts, OK to post as comments.
- Only approved bots from the list below, this includes using AI responses and summaries. To ask if your bot can be added please contact a mod.
- Check for duplicates before posting, duplicates may be removed
- Accounts 7 days and younger will have their posts automatically removed.
Approved Bots
founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
USA subsidized Detroit $80B since 2008, and that's ignoring state graft for building assembly plants. What the fuck did they do with that money, attack Eastern industries?
Well, it was $79.7B to be exact. And what the US government did with that was not cut checks, but rather, purchased stock in the companies.
When it sold the stock it bought from manufacturers, it sold for around $70B. When they sold the approximately $2.4B invested into Ally (an auto financing firm), it sold for $17.2B.
So the money spent in 2008 actually made a profit. It was not distributed to the manufacturers or finance companies at all. Just used to shore up their value to prevent them from going out of business – and more importantly, probably, make sure investors didn't lose money, or at least not too much.
oh, touche! but that was only after 2008, and not including previous bailouts to Ford. Then, every state, everywhere is paying to either get or keep assembly plants but that does not factor into your selective math.
When you take into account inflation and the overall market gains over that time, they absolutely did not make their money back.
When you take into account that the original assertion was tht eighty billion was given to the auto manufacturers, I don't think my comment deserves the reaction it got, not a reply like yours.
Would you rather they ended up with zero dollars?
Yes.
The only terms under which I could potential accept tax money being used to save a company from a collapse leading to massive layoffs, is if the resulting company is also made entirely employee owned.
Well, that's not how it would happen and you know it.