Friday, December 19, 2008

Bush Approves $17.4 Billion Auto Bailout

David M. Herszenhorn and David E. Sanger reported in The New York Times

Via Robert Farago at The Truth About Cars, Bailout Watch 295
And here’s something odd. “Government officials will examine all financial statements and records of the car companies.” You mean they haven’t already? The Prez wants to fork-out $17.4b without knowing the exact size of the hole into which he’s throwing U.S. taxpayer money?

On Chrysler's reaction, Mr. Farago comments,
Business as usual, then? Yup.

And to GM's,
Once again, GM CEO Rick Wagoner has slipped the hangman’s noose without promising any quantifiable goals or metrics for future success.

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