Just what we need! Actually, we need to stage a peaceful coup d'etat.NEW YORK (CNNMoney.com) -- General Motors and Chrysler LLC asked the government Tuesday for $21.6 billion in additional loans, but the final cost of a bailout of the auto industry could be significantly higher.
The two struggling auto giants have already received a total of $17.4 billion in loans. If they get the new loans they want, the price tag of the bailout would climb to $39 billion.
What's more, $7.5 billion in loans have already been approved for the financing arms of GM and Chrysler. Congress also approved funding last year for $25 billion in loans to help automakers convert their plants to produce more fuel efficient cars.
Wednesday, February 18, 2009
Another Auto Bailout Proposed
Labels:
auto bailout,
business,
Glen Maganzini,
national news,
politics
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