Should the Congress bail out the Big 3?
September 3rd, 2008
Talks have started at the White HouseAutomakers have gained momentum in their quest for some $50 billion in US backed loans, although that amount could get slashed to $25 billion. The Detroit News has reported, "It's something we're aware of and we're talking to the members of Congress and also the people in the (auto) industry, and thinking about what they might think would be required from their perspective," White House spokeswoman Dana Perino said at a press briefing Tuesday. She said she wasn't prepared to say what funding amount "the White House would or would not support," noting "there's a lot of details that go into something like that." And, with both John McCain and Barack Obama supportive of at last $25 billion - Obama supports the $50 billion - some type of bailout seems inevitable. Despite the fact that automakers are now suffering for all putting all their eggs in the gas-guzzling basket, do the deserve a bailout? Rate an automaker bailout? Is it a good idea? |
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