[DeTomaso] allowing detroit to fail

[Mad Dog Antenucci]

Jack 
you are confused again Bro'''.....Its the Senate that killed the funding THE Big 3....but you are right about Chrysler repaying their bail out loan....they paid the interest and they paid early.

Others have made some excellent points about there has to be some strings attached to this loan (bailout). The Big 3 were already bleeding out. UAW was upside down as well. 

MD

JDeRyke at aol.com wrote: Well, it appears that Congress is still more intent on scoring points against 
the other party than actually governing for public good; the $14 billion loan 
package for GM and Chrysler failed in the Senate. For the younger guys, this 
is not a brand-new concept. In the mid-'60s, Lockheed deperately needed a 
bridge loan as gov't contracts had fallen off in the aircraft & defense 
industries. The loan, after some finger-wagging and posturing, was granted. Then in the 
'80s, Chrysler fell on hard times , and Lee Iacocca went to D.C. to ask for a 
loan... which was eventually granted. This was a few years before Daimler-Benz 
bought Chrysler.

Note also that both these LOANS were repaid to the Feds, with interest. Not a 
bad deal for us- the public actually made a few bucks for a change. Perhaps 
this unfamiliar concept is why the Senate rejected the proposal? FWIW- J Deryke



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Mad Dawg Antenucci 
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