Skip to comments.GM Hints It'll Seek More Federal Loans Early In New Year
Posted on 12/29/2008 1:40:20 PM PST by rabscuttle385
Despite just receiving $13.4 billion in government loans, General Motors (GM) hopes to make another federal cash withdrawal, probably in early 2009.
GM spokesman Greg Martin noted the automaker had originally requested $18 billion in "bridge loans" and revolving credit from the government in late November to help survive the recession.
Instead, talks stalled in Congress and the Bush administration acted on its own to approve $17.4 billion in loans, with $4 billion going to Chrysler.
(Excerpt) Read more at investors.com ...
GM: I’ve fallen and I can’t get up!..............
In 2010 or 2011, this will be a line in the Federal Budget.
Never-ending corporate welfare ping!
Go To Hell GM is being nice. Anyone buying a GM car in 2009,,or EVER??
IMHO, this “bailout” BS has gotten completely out of hand.
Time for the pubbies to draw a line in the sand and just say HELL NO!!
Dido, screw you GM and repeat after me CHAPTER 11 try it you might dump those stupid UAW Thugs. Amen.
I’m sure the bail-out will have a negative effect on those thinking of buying a GM car. That, then, will cause a need for more bail-out funds, etc., etc.
Just like the heroin addict that promises to get clean tomorrow if you just give him enough for his fix today . . .
This will be going on forever - really, there will not be an end to it. The excuse will be going forward that the government now has to continue to fund the Big 3 to “protect their investment.”
..also just like the SNL spoof, sadly it has come true..
People that make loans to companies failing generally don't get it back after Chapter 11 .... so the taxpayer just sent a BOATLOAD of $$ to these idiots and won't get paid.
“Go to hell, GM.”
I agree. The spineless management refuses to stand up to the greedy unions who in turn refuses to take pay cuts.
Shouldn’t they change their name to Federal Motors?
They had their chance, even voted down the original banking bailout once before caving to the MSM. (Make no mistake: the MSM actually drives every bit of this.) You'd have a tough time assembling one complete spine from the entire GOP structure in Washington.
Our party as it currently exists is worse than worthless; it's detrimental. It's one thing to fight and lose, another to join ranks with the enemy, which is exactly what the current GOP has done. Beginning in 2010 and continuing until the job is finished, we need to vote out virtually every GOP incumbent.
The notion that We the People control our government is now nothing more than illusion. There's one big (liberal) power structure that controls everything federal. No more than 20%-30% of the country would agree with their policies (if the masses had the gumption to find out what those policies really are), but they control the entire federal government.
Bottom line? The left will cap off a 40-year coup on January 20 when they install their selected president.
MM (in TX)
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