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Ford Motor Company Statement on Proposed Congressional Automotive Industry Bill
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by dunkelberg | December 8, 2008 at 07:33 pm
193 views | 5 Recommendations | 1 comment
I offer the following straight off the Ford PR presses.
DEARBORN, Mich., Dec. 8 – As we told Congress, Ford is in a different position. We do not face a near-term liquidity issue, and we will not be seeking a short term bridge loan. But Ford fully supports an effort to address the near-term liquidity issues of GM and Chrysler, as our industry is highly interdependent and a failure of one of our competitors could affect us all.
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maverick_mathaeus (not verified)at 20:47 on December 8th, 2008
The auto bailout, if banks dont lend in a year the auto makers will still be on verge of bankrupt. Any and all bail out should be accompanied by strict regulations and forced cut backs on frivilous things.
Current lending activity seems improper seeing as how the banks are being bailed out with tax money. Considering the fact 90% of the money banks make come from median or below average income families (the ones with marks on thier credit) a general and across the board cut back will not help bank profits. Nor will it boost the economy, I think the Government planned on banks continuation to lend as a step in improving economy.
Un-reigned capitalism is a canibal.