BAILOUT - Major Automakers get $25 BILLION
puremagic
Posts: 1,907
The very corporations that closed plants, outsourced jobs, and avoided taxes will get $25 billions from the taxpayers they laid off.
House passes funding bill with loans for automakers
By Andy Sullivan Wed Sep 24, 7:03 PM ET
WASHINGTON (Reuters) - The U.S. House of Representatives on Wednesday funded a $25 billion loan package for troubled automakers as part of a mammoth spending bill to keep the government running through March 2009, but the legislation did not extend a ban on offshore oil drilling.
The spending bill, which passed by a vote of 370 to 58, is needed to keep the government operating after the fiscal year expires on September 30.
It is expected to pass the Senate.
The bill sets aside $7.5 billion in taxpayer funds needed to guarantee $25 billion in low-interest loans to help struggling General Motors Corp., Ford Motor Co. and Chrysler LLC produce more fuel-efficient cars and trucks.
House passes funding bill with loans for automakers
By Andy Sullivan Wed Sep 24, 7:03 PM ET
WASHINGTON (Reuters) - The U.S. House of Representatives on Wednesday funded a $25 billion loan package for troubled automakers as part of a mammoth spending bill to keep the government running through March 2009, but the legislation did not extend a ban on offshore oil drilling.
The spending bill, which passed by a vote of 370 to 58, is needed to keep the government operating after the fiscal year expires on September 30.
It is expected to pass the Senate.
The bill sets aside $7.5 billion in taxpayer funds needed to guarantee $25 billion in low-interest loans to help struggling General Motors Corp., Ford Motor Co. and Chrysler LLC produce more fuel-efficient cars and trucks.
SIN EATERS--We take the moral excrement we find in this equation and we bury it down deep inside of us so that the rest of our case can stay pure. That is the job. We are morally indefensible and absolutely necessary.
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i mentioned this on Wednesday when it happened, in one of the millions of bailout threads now on this board (how ironic, me thinks).
Congress sure knows how to railroad shit through when no one is paying attention.
30billion for Detroit and another nearly 1 Trillion in defense spending,
and no one so much as blinks.
:cool:
If I opened it now would you not understand?