The reality is that much of the money loaned to Chrylser before and during its bankruptcy process won’t be recovered, said an administration official, speaking for the Auto Task Force, which is a joint effort of the White House and Treasury. (We tried to get the official to speak for attribution, but the official declined.) The face value of the $4 billion loan approved by the Bush administration will be by and large written off during the bankruptcy process, according to the official and Chrysler’s bankruptcy filings. The administration has also pledged to give Chrysler up to $3 billion to keep the company afloat during restructuring.