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Car companies vie for government money
Calcutta News.Net
Friday 19th September, 2008
Detroit's car companies have been attempting to make a deal with the US Government for $25 billion in low-cost federal loans to see it through its cash crisis.
Requests for the money have led to tense moments for the car companies, their power brokers in Washington and the Big Three CEOs, who would like US$25 billion.
Congress actually authorized financial assistance in last year's energy bill, which required automakers to increase the car's average fuel economy by 40 percent, to 35 miles per gallon, by 2020.
But Congress never funded the $25 billion, which is what Detroit is desperately seeking before Congress adjourns on September 26th.
Detroit executives hope to receive some of the government largesse which has already been lavished on the likes of Bear Stearns, Fannie Mae and Freddie Mac.
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` ~galljdaj+
09-19-08, 08:56 AM |
Car companies vie for government money
What do conservative capitalists do when 'trouble' knocks on their door?
They stop buying pencils and paper! They cut budgets by 10%! They stop hiring! They stop giving raises and bonuses. The stop paying educational expenses! They go into survival modes.
What has been the 'Responses' of Our Capitalistic Conservatives Running and Leading Our Nation for the Past 8 years?
It began giving the wealthiest huge sums in tax reductions! With the idea they would multiply into a trickle down to everybody!
And the End Game for these same Capitalistic Conservatives is to give the POOR VERY RICH EVEN LARGER SUMS TO GET THROUGH THE MISMANAGEMENT!
seems like socialism for the rich...
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big head two
09-19-08, 06:52 PM |
car company vie government money
First thing first, if the big three can produce more less expensive cars, and low fuel consumption vehicals, then the government should fund the money. We have support the economy so our society is running strong.
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