President George Bush Approves $17.4 Billion Auto Bailout

President Bush announced $13.4 billion in emergency loans to prevent the collapse of General Motors and Chrysler, and he said that another $4 billion would be available for the automakers in February. The entire bailout rests on whether the companies can reorganize to show that they can return to profitability. If the companies don't come up with "a viable plan by March 31st," they would be forced to repay the loans as soon as possible

Category:

News & Politics

Tags:

• Loan
• Loans
• Bailout
• Rescue
• Bush
• President
• Congress
• Auto
• Automotive
• Car
• GM
• Chrysler
• General
• Motors

[dakusahab]

lolz, i think now it should be called yellow power, cos the Chinese are buying up the world while the ignorant whites were fighting the blacks.

[themou2008]

Yeah... isn't is strange that all we hear on the air waves and tv is how the government needs to help the Big 3 because the job situation? However, we don't hear anything on the number of American jobs that Toyota and Honda are loosing because the economy has also affected them.

[themou2008]

It's interesting. One of the Gov. regulations for the bail-out is for the Big 3 to produce more "environmentally friendly" cars. This is the very thing that Toyota said that they would cut back on in order for their cars to be more affordable. Why don't the Big 3 learn from Toyota?... Oh yeah... the Big3 have union contracts involved.

[supergusano2]

no. if you believe in capitalism, the consumer will and should buy the best product. If american cars suck, they won't be bought. Nor should they be. The U.S. automakers need to either make decent cars or go the way of the dinosaur. Not get bailed out and keep making shit cars.

[usa1america]

Fuck Jap and Korean cars!

Buy American cars!

White Power!!

[NCBKitten]

Well, this makes sense. Just like the bank bailout did. Give money to companies who couldn't manage money properly in the first place.

[skulldrill]

Yup you could throw money at the big three untill the cows come home but you will never see our jobs back from china again. And don't you DARE blame the UAW. The UAW didn't chase our jobs away, GM wanted cheaper labor plain and simple and getting away from the UAW was a plus for them too as they wouldn't have to be responsible employers to the foreigners. It all went downhill after they eliminated the United Plant Guard union.

[homeskil6850]

don't worry slick, i haven't bought a piece of crap from the big 3 since the mid 70's. i've owned both domestic and foreign, but the foreign cars never left me on the side of the road. you're also naive if you think keeping the big 3 around will boost the economy. you can throw money at them until the cows come home...same result. wait and see

[Supermirafiori131]

if u don't want a product from the Big # then don't buy it. but stopp blaming th companies. all automakers have good and bad models. and the closing of the big 3 is not about the product quality it's the us economy

[homeskil6850]

GW did this to protect his so-called legacy. Everybody knows this hand-out to the auto companies will not keep them from going under. They're building piles of crap and will continue to build piles of crap. If I could get a loan for a car, I would not buy a car from the Big 3. Another thing, even with the bailout, the UAW whiners are still not happy. They help run the companies in the ground and still want more...amazing