Well, at east they're talking about doing it from the existing 700B bailout funds. It's a sad fact, but the auto industry in the US is one of the largest manufacturing and retailing segments in the economy. Frankly, we can't afford to have that large a section of our workforce laid off and drawing unemployment.
The upside is that the loan would come with 'strings attached', one of which will be for the Big 3 to produce more fuel efficient cars and trucks.
I'm not a fan of the bailout, and as I suspected, more than just the financial sector would want some of the cake... Might as well make the best of it 'cause there's nothing the average taxpayer can do about it.
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