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Thursday, December 18, 2008

GM and Chrylser Bailout Plan might be announced Friday

by Calculated Risk on 12/18/2008 09:08:00 PM

From Bloomberg: GM, Chrysler Said to Be Poised for U.S. Loans to Get Into March

General Motors Corp. and Chrysler LLC would get U.S. loans to stay afloat until March under a Bush administration rescue plan that may be unveiled as soon as today ...

The Treasury Department may lend to the automakers through their credit arms, GMAC LLC and Chrysler Financial, to avoid having other industrial companies line up for access to the $700 billion Troubled Asset Relief Program ...
We are all banks now!