Quote:
Originally Posted by redeagle313  GM, Ford, and Chrysler have all asked for loan guarantees to help them bridge that gap of the current economic crisis. Is that a bailout? NO, it is a loan, not a gift. Better for the government to offer huge companies loans to keep them going rather than have a hundred thousand plus people unemployed and the resulting ripple effect it would hit the nation with. |
The Wall Street Journal & the National Automobile Dealers Association are both reporting that General Motors has asked the US Treasury Department for financial aid of $15B to help complete the merger with Chrysler. This is in addition to the $25B loan to GM, Ford, & Chrysler.
I do agree with you that it is better for the federal government to help.