Posted on December 12th, 2008 • by Bill Cawthon
The legislation that would have provided immediate loans to Chrysler and General Motors was killed in the Senate according to Majority Leader Harry Reid. “We have not been able to get this over the finish line,” Reid said late Thursday, adding that he dreads what will happen on Wall Street tomorrow. “It’s not going to be a [...]
•
Like on Facebook • Tags:
bailout,
Chrysler,
Harry Reid,
loans,
Senator,
United Auto Workers.
Posted on December 5th, 2008 • by David Zatz
George W. Bush asked Congress to help domestic automakers without providing additional loans today, again suggesting his “compromise plan,” which would scrap previous Congressional legislation authorizing $25 billion in loans for high-efficiency vehicles. Bush’s Energy Secretary originally refused to dole out any of the $25 billion in loans until 2010, though the legislation called for [...]
•
Like on Facebook • Tags:
bailout,
Congress,
credit,
economy,
government,
Harry Reid,
loans,
Senator,
suppliers.
Posted on November 17th, 2008 • by David Zatz
According to Detroit News, Senator Majority Leader Harry Reid will shortly introduce a bill to set aside $25 billion of the $700 billion Troubled Asset Recovery Program for automakers. Unlike banks, automakers will have to agree to real limits on executive compensation; in addition, automakers will not be able to use loans to pay dividends, [...]
•
Like on Facebook • Tags:
bailout,
compensation,
government,
Harry Reid,
Henry Paulson,
loans,
Michigan,
Senator,
stock,
suppliers,
Treasury.
Posted on November 12th, 2008 • by Bill Cawthon
The Bush Administration has said it would consider immediate aid for the Detroit automakers if Congress approves it, but does not want to tap the $700 billion included in the Emergency Economic Stabilization Act. According to White House spokeswoman Dana Perino, that program was designed to help financial institutions and there was no specific discussion [...]
•
Like on Facebook • Tags:
bailout,
Chrysler,
Congress,
economy,
factories,
General Motors,
Harry Reid,
Henry Paulson,
loans,
Michigan,
Nancy Pelosi,
President Obama,
Senator,
Treasury.
