POLL: Will Detroit get the $34 billion they're looking for?
Answers
2222 points
readytoretire answered one year ago …
I think they will get most of it. The current request (from teck ticker) is for 45B. I think the government will end up giving them most of what they ask. But they will want numerous changes, additional rules, etc. to make it look like they are really looking out for our money. The big question is whether Congress can act soon enough, if the warnings from Chrsyler and GM as to when they need money is to be believed. It is not a good idea to try to get Congress to act in a timely manner.
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4085 points
EthanR answered one year ago …
I agree with the above answer. Congress wants to look tough for the American people, but no way do the Democrats allow the unions to go under- too many votes at stake. So don't listen to the noise, but see the forest through the trees. I was impressed by Ford saying they only need a line of credit, not a bail out (I should disclose I own stock in Ford at the moment). I was not impressed with GM's warnings of the end of civilization or worse if they do not get their money in the next 30 minutes!!!
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