[bigearl]

As I read this, what I get out of it is that:

*BMW needed a loan.
*Banks WERE NOT lending because of the banking crisis (not the auto crisis, the banking crisis).
*BMW could get a loan under normal circumstances, but lenders weren't lending period.
*Feds set up a funding source to assist with large loans while they worked the banking crisis out.

I don't see this as the Feds helping out BMW, I see this as the Feds standing in for banks because the banks were in such trouble. I'd agree under normal circumstances the funding shouldn't be this way- this ship was sinking though and the feds were just blowing up life rafts as quick as they could.