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maelstrom
39 Comments
Congress Offers Big Three Automakers Help, Makes Demands in Exchange
It's 'pretty clear' a proposal to lend automakers $25B from the Treasury's $700B fund will fail, Republican Sen. Jon Kyl says. He accuses Democrats of trying to score points by pushing the bill now when it has no chance of passage. (previously)
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GM (GM), Ford (F) and Chrysler, with a combined H1 loss of $28.6B, are angling for $50B in federal loans as they face the worst market conditions in 25 years. The loan would be split into $25B to be spent on healthcare and $25B of general liquidity.
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