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American Auto Bailout Is A Go December 19. 2008
Henry Paulson: hey, why not! The U.S. auto industry will receive $13.4 billion dollars in loans from the government to stay afloat during the unprecedented financial crisis the nation is currently experiencing. GM and Chrysler Will Get $13.4 Billion in U.S. Loans (Update8) …The package is intended for GM and Chrysler initially. Ford Motor Co., the second-biggest U.S. automaker, has said it can continue operating without aid for now. The loan term is three years. GM would get $4 billion by Dec. 29 and $5.4 billion by Jan. 16. Chrysler would get $4 billion by Dec. 29. GM would get another $4 billion by Feb. 17, provided Congress releases the TARP funds. |
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