Remember when President Barack Obama visited a Chrysler plant in Toledo, Ohio, on June 3 to discuss the recent announcement that the Chrysler Group LLC repaid $5.1 billion in outstanding loans? That brought the total repayment, as of May 24, to $10.6 billion — about $1.9 billion less than the $12.5 billion the company borrowed under the Troubled Asset Relief Program, or TARP.
In his speech, the president said:Obama, June 3: "And today, I’m proud to announce the government has been completely repaid for the investments we made under my watch by Chrysler because of the outstanding work that you guys did. Because of you. Chrysler has repaid every dime and more of what it owes the American taxpayer from the investment we made during my watch. And by the way, you guys repaid it six years ahead of schedule."