Big 3 Bailout Coming Soon! Payup People! | Drink The Kool-Aid!
source: http://www.whiterabbitcult.com/big-3-bailout-coming-soon-payup-people/
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- webgrafix
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The White House Tuesday demanded that Detroit automakers prove their “long-term viability” in return for a 15-billion-dollar rescue bailout but said a deal with Congress was in sight.
President George W. Bush’s administration is making “good progress” in its talks with congressional leaders over legislation to shore up General Motors, Ford and Chrysler, White House spokeswoman Dana Perino told reporters.
“We are still working through a number of issues, some of them just small and technical, and other ones a little bit more meaty in scope, but, all in all, making sure we’re headed in the right direction,” she said.
But Perino stressed: “Our insistence that long-term viability be reflected in the legislation is something that we have held very strong feelings about, and that has not changed.
“There will not be long-term financing if they cannot prove long-term viability.”
Short-term loans of 15 billion dollars are meant to sustain the car giants through March, allowing president-elect Barack Obama time to address their crisis after he takes office on January 20.
GM and Chrysler are first in line after warning they are fast running out of cash. Ford, though equally hampered by slumping sales, says it faces no immediate liquidity crisis but wants a nine-billion-dollar line of credit.
President George W. Bush’s administration is making “good progress” in its talks with congressional leaders over legislation to shore up General Motors, Ford and Chrysler, White House spokeswoman Dana Perino told reporters.
“We are still working through a number of issues, some of them just small and technical, and other ones a little bit more meaty in scope, but, all in all, making sure we’re headed in the right direction,” she said.
But Perino stressed: “Our insistence that long-term viability be reflected in the legislation is something that we have held very strong feelings about, and that has not changed.
“There will not be long-term financing if they cannot prove long-term viability.”
Short-term loans of 15 billion dollars are meant to sustain the car giants through March, allowing president-elect Barack Obama time to address their crisis after he takes office on January 20.
GM and Chrysler are first in line after warning they are fast running out of cash. Ford, though equally hampered by slumping sales, says it faces no immediate liquidity crisis but wants a nine-billion-dollar line of credit.
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- tags:
- Ford, Chrysler, General motors, bailouts, 2 more
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Robroy1
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It's a loan not a bailout stupid! They just threw 350 billion at wall street to people like Paulson, and schrawtz etc, why not save the Auto companies with a measly 15 million loan. You can bet paulson and his buddies will never repay the 350 billion they just went through. 1 in ten people work directly or indirectly for the Auto companies. They better loan them the money.
- 3 years ago
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Robroy1
