Automaker bailout goes to President
Chevy Volt and EV1 at Alt Car ExpoBoth the House and the Senate have signed off on a bill to give $25 billion to automakers to help make more fuel efficient vehicles. And, I'm OK with that. This is about jobs at a time when jobs are desperately needed.
Still, this isn't just a loan, it is a bailout. Tax payers ARE putting up $7.5 billion to secure these loans. Besides, despite new CAFE regulations, the markets are DEMANDING the Big 3 move towards efficiency. The Big 3 have no choice but to change, something that should have been obvious after 9/11 and Katrina.
Let's hope they get it right this time.
posted by Dahcredyns at
9:11 AM
5 Comments:
The "bailout" should be in the form of a loan.
it is a loan, but that loan still requires 7.5 billion to secure it.
Well no matter what you think about this ""bailout", it is just a drop in the bucket compared to the big bank $700B bailout.
My, oh my - this financial crisis is directly messing with my Volt investment account. I seriously hope the other side of the storm is no more than a year out...
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and without the $700 billion bailout, this $25 billion is a waste, as the auto industry won't survive without first going into bankruptcy.
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