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Originally Posted by PsyDoc
So, let me get this straight. Right about the same time Congress passed the $700 billion bailout bill, they also passed a $25 billion dollar bailout for the big three. Granted, the bailout for the big three received little attention. Now, the big three are coming back to the table because they are still hungry? What the hell?! |
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Originally Posted by LS9CamaroSS
the 25$ billion bailout hasn't been finalized just yet i don't think...besides the auto companies are getting loans not grants like wall street so it isn't as bad as it sounds...
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Originally Posted by Design1stCode2nd
Yes it is. Direct from GM's press release:
To summarize "Give us gubment money or we go tits up".
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Originally Posted by CamaroFan1
You know that the government is going to get a loan program in place for GM and Ford, just like the airline industries after 9/11. They are not going to allow them to go completely under due to the huge job losses that would happen, plus the loss in retiree benefits.
I just bought a couple thousand shares of GM stock @ $4.05 this morning. The news about the company is bad now, but once a loan program is announced, the stock is going to go back up, at least temporarily....
I'll use the profit for Camaro mods!
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It is a
loan with interest paid back to the government. It's better on the tax payers this way. Much better.