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

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

[WackySam]

Dec. 19 (Bloomberg) -- General Motors Corp. and Chrysler LLC will get $13.4 billion in government loans to keep operating in exchange for a restructuring under a rescue plan that President George W. Bush will announce this morning.

The money will be drawn from the Troubled Asset Relief Program and the automakers will get an additional $4 billion from the fund in February, according to a statement from the Bush administration. The money would allow GM and Chrysler to keep operating until March.

[nobama08]

How does Bush have this authority and power?

[rabscuttle385]

*Ping!*

[rabscuttle385]

I can't wait for all the Bushbots to crawl out from the woodwork and defend Bush's "compassionate conservatism."

The Money, Banking, and Financial Markets Ping List. "Money, not morality, is the principle commerce of civilized nations." —Thomas Jefferson FR Keywords: moneylist, bankinglist, financelist Please tag all relevant threads with the aforementioned keywords. This can be a very high-volume ping list at times. Ping list jointly pinged by rabscuttle385 and TigerLikesRooster. To join the ping list: FReepmail rabscuttle385 with the subject line add  moneylist. (Stop getting pings by sending the subject line drop moneylist.)

[Impy]

[pointsal]

...what...returned money?

Give me a break.... any of these nitwits in Congress or the White House ever deal with a bankrupt.... the money is a goner on day one.

[Impy]

Bizzaro Bush is a conservative DINO that destroyed the democratic party.

[RckyRaCoCo]

That picture makes him look like that sports dude Jim Rome..or in Bush’s case...Gip Loans

[teletech]

Bizzaro Bush is a conservative DINO that destroyed the democratic party.

President Bush is a disappointment to me BUT HE IS NO DEMOCRAT! If he destroyed the RATS, I see that as a good thing!

[teletech]

How does Bush have this authority and power?

Good question.

[rollo tomasi]

Emergency Economic Stabilization Act of 2008, TARP was the center piece of that whole debacle.

[edge10]

You see Bizarro Bush lives in Bizzaro USA where everything is opposite.

See Bizzaro Superman.

[Impy]

“President Bush is a disappointment to me BUT HE IS NO DEMOCRAT! “

No, Bizzaro Bush is. And he must be a disappointment to liberals.

[KellyM37]

[kittycatonline.com]

Here’s a few more- AMC Pacer Pontiac Fiero Ford Bronco II Ford Tempo AMC Gremlin

I'd add in the entire series of Caddys and Olds cars from the what, early 80's that had those horribly chopped off trunks; like they got caught in a diagonally-angled guillotine. Oh, those were ugly.

Ha, and that Caddy 4-6-8 engine they tried. That was a dog. Mega-dog.

[4Liberty]

When gov’t. goes bankrupt, who will bail IT out?....

Greedy auto unions

[radialenginefan]

The Cerberus Bailout Connection!

http://michaelsavage.wnd.com/index.php?fa=PAGE.view&pageId=3131

http://www.iht.com/articles/2008/12/07/business/cerberus.php

[4Liberty]

Who’d buy these cars, NOW? What about parts, service, warranties?

They screwed themselves, just for a few sheckles of taxpayer dollars [subsidies].

[4Liberty]

“Let’s save the Titanic by draining the ocean.”

Excellent

[4Liberty]

<> "That also has a reverse effect: It causes investment cash to seek other alternatives. Such a low percentage return on savings does not entice investment in money market accounts or CDs. That hurts the 'loan' industries, as it dries up 'the tool of their trade'. This time, the FED is moving interest rates in the wrong direction. Additionally, those low interest rates are playing havoc with retirement accounts." Good points. "Thanks, Fed..."

[jdege]

And he called for elimination of a "jobs bank" program

"Called for ...", not "made the loans conditional on ..."