The deal would extend $13.4 billion in loans to General Motors Corp. and Chrysler LLC in December and January, with another $4 billion likely available in February. It also would provide the government with non-voting warrants, although the exact amount was unclear immediately. Ford Motor Co. has said it doesn’t need short-term assistance.
Buy Ford, guys. GM & Chrysler did it to themselves (Chrysler twice in its history, and that bailout was wrong, too).
The facts that this is overwhelmingly opposed by the American people, was killed in the legislature, and that the TARP funds were allocated for an entirely different purpose were apparently not major factors in this decision.
Starting countdown to “Gimme more…”