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In addition, the government would extend a credit line to the new company and forgive the bulk of the $15.4 billion in emergency loans that the U.S. has already provided to GM, the source said.
That's 15.4 billion that GM was supposed to pay back thru hard work and change....poof..gone..
New CAFE standards and now Government control of GM... So now no more competition since the paycheck is assured.. I wonder how the foreign car companies are going to respond to their new competitor..The US government...
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