Quote:
Originally Posted by RealQuickCamaro
President-elect Obama said Friday his transition team would explore policy options to help the auto industry. He didn't specifically address the industry's new loan requests but said their hardships affect small businesses and auto suppliers.
"The auto industry is the backbone of American manufacturing," he said, promising that his transition team will work to "help the auto industry adjust."
GM and Ford said Friday in a conference call that they and other automakers had asked for an extra 25 billion dollars in government-backed loan guarantees during talks with Democratic House of Representatives Speaker Nancy Pelosi on Thursday in Washington.
"In the meeting yesterday we talked about near-term industry support in the range of 25 billion," said GM president and chief executive Rick Wagoner. "No one said yes or no to that figure and so I don't think that's anywhere near a final one."
He said that "letting GM go" would be far more significant than the bankruptcy of the investment bank Lehman Brothers, which sparked the latest round of the financial crisis in September.
|
You betcha he's gonna help the U.S. Auto Industry. When he bails them out due to the economic collapse his buddies created he will then stick some ultra aggressive CAFE program on them and probably some extra safety and pollution regs as well. Our beloved Camaro will disappear overnight and we'll all be driving 5,000 pound jellybean shaped hybrid tricycles with 1200 pounds of citric acid batteries.
Those of you who cling to your V8 engines and RWD will pay new emissions taxes and gas taxes because if you want to drive a musclecar you will go bankrupt.
Of course in the above I am exaggerating to make a point but only a tiny bit.