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Forums - General - US is bailing out the auto makers, too? $25-50 Billions of tax dollars

Galaki on 10 September 2008

source consumerist

Washington Considering $25 Billion Loan Handout For U.S. Auto Makers

What do you do when your industry starts to go belly up and you can't make enough revenue to stay afloat? If you're a short-sighted U.S. auto maker, you beg the government for $25-50 billion in immediate, low-interest loans in order to retool your plants, so you can start producing the hybrid cars you should have been planning years ago.

The U.S. House of Representatives is considering loaning at least $25 billion to GM, Ford, and Chrysler, possibly as part of a second economic stimulus package. If so, they'll have to move fast. Congress will go on break at the end of this month and may not reconvene for the rest of the year.

"House leadership weighs loans for automakers" [Reuters]



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MrBubbles on 10 September 2008

seems a bit expensive to me.... but if its actually reasonable, it would be a decent investment



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MrBubbles Review Threads: Bill Gates, Jak II, Kingdom Hearts II, The Strangers, Sly 2, Crackdown, Zohan, Quarantine, Klungo Sssavesss Teh World, MS@E3'08, WATCHMEN(movie), Shadow of the Colossus, The Saboteur

stof on 10 September 2008

I'm starting to think that the North American Auto crisis won't be solved until one of the big three goes belly up.



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Coca-Cola on 10 September 2008

who is paying for this?
another bail out!!!
hey, why don't you bail me out instead! it'll be a lot cheaper.



MrBubbles on 10 September 2008
Coca-Cola said:
who is paying for this?
another bail out!!!
hey, why don't you bail me out instead! it'll be a lot cheaper.

 

except you dont employ thousands of people and havent paid billions of dollars to the government in taxes.



"I like my steaks how i like my women.  Bloody and all over my face"

"Its like sex, but with a winner!"

MrBubbles Review Threads: Bill Gates, Jak II, Kingdom Hearts II, The Strangers, Sly 2, Crackdown, Zohan, Quarantine, Klungo Sssavesss Teh World, MS@E3'08, WATCHMEN(movie), Shadow of the Colossus, The Saboteur