GM and Chrysler Will Get $17.4 Billion in U.S. Loans to Survive

Yahoo News ^ | 12-19-08 | Roger Runningen

[WackySam]

Under the terms of the plan, if the companies can't demonstrate financial viability by March 31 the loans will be called and the money must be returned, the statement said.

They really do think we're idiots

[Slapshot68]

“Under the terms of the plan, if the companies can’t demonstrate financial viability by March 31 the loans will be called and the money must be returned, the statement said.”

Get out the utensils, it’s time to cook the books.

[Tublecane]

State intervention is yet again the first resort of our “conservative” president.

[jdege]

And what conditions is Bush placing on the UAW?

[teletech]

Bush’s parting shot to the GOP and America. Sad.

[Peter W. Kessler]

How can it be returned if it’s already spent?

[2001convSVT]

None, and the Auto Companies will be in the same fix within 6 months.

[Slapshot68]

Yesterday he was talking a gov’t run bankruptcy. What happened to that idea? That would’ve allowed the Big 3 to nullify or restructure it’s union contracts.

But now they’re simply being given money with a vague missive to have a plan in place in 3 months. Whoop dee do.

[Captain Kirk]

It is part of the same pattern. He was quite willing to sacrifice the bill of rights because of one emergency. Now, he is willing to sacrifice the free market for another.

[St. Louis Conservative]

None.

[Orange1998]

My point too. How can the govt get it back if debt is higher than assets. Unless the Govt leap frogs over all liens. If so Capitalism is dead.

[2001convSVT]

Yes they do! Americans have been so dumb down, only about 10% of us really know what is going on. Thank the Lord that most of us 10% are here at FreeRepublic.

[jagusafr]

Bad idea, bad idea, bad idea. Of course, we can’t let the big dogs just declare bankruptcy like everybody else who has mismanaged their business. Face the consequences of your actions? Puhleeeeeeze!

Makes me wanna barf.

Colonel, USAFR

[saneright]

“GM and Chrysler Will Get $17.4 Billion in U.S. Loans to Survive” that will actually be a welfare handout because the loan will never be repaid.

[Troll_House_Cookies]

[Peter W. Kessler]

I still want to buy a Chevy HHR SS Panel, dammit.

They’re going to have to give me the deal of the century for me to shell out the bucks.

[Lurking in Kansas]

This does nothing but prolong the inevitable (bankruptcy) a few more months. On the other hand, maybe its all Bush wants … make it happen on Obama’s watch.

Either way it’s lunacy.

[Night Hides Not]

How can it be returned if it’s already spent?

I'm sure this makes sense to Peggy the Mooch.

[Slapshot68]

I love that movie.

“You guys are being a bunch of Yokohama mamas...no offense.” ~ Michael Keaton

[RummyChick]

My god, how could he say that with a straight face. How are they suppose to pay that back. I hope the debt isn’t discharged in a bankruptcy.

The good news is that this gives enough time for outraged people to threaten the Senators that they will be voted out if they vote for money for these UAW crooks. Of course, probably wont’ make any difference.