StaffAllpar HomeMore NewsCarsTrucksUpcomingRepairsTest drives

Treasury to help industry, dealers

by David Zatz on

Treasury Secretary Timothy Geithner declared that the U.S. would spend up to $1 trillion to boost consumer credit, including car loans and inventory financing for dealers. Geithner noted that the approach of spending money to boost banks had not had the desired effects on the greater economy. 

The new effort is similar in principal to one announced by the Bush administration in November, which was never implemented. It is titled Term Asset-Backed Securities Loan Facility, (TALF), and is intended to rejuvenate loans for citizens by unfreezing the “secondary market” for loan-backed securities.

Geithner also noted that the $700 billion TARP fund would be overhauled and possibly renamed. TARP was the source of nearly $25 billion in aid to GM, GMAC, Chrysler, and Chrysler Financial.

Ram 1500 TRX: First Drive in the Raptor Slayer

New future for minivans, big cars (updated)

Mopar Makes Towing with the Jeep Gladiator Safer

More Mopar Car
and Truck News

Some popular Allpar pages

Dodge Demon

2018 Wrangler JL

Staff details/contactsTerms of ServiceInformation is presented to the best of our knowledge. Plans change and sometimes mistakes are made. Decisions or purchases made based on this site's verbiage or images are done at the reader's own risk. Also see the Allpar News archives, 1997-2008 • Copyright © VerticalScope Inc. All rights reserved. • Mopar, Dodge, Jeep, Chrysler, HEMI, and certain other names are trademarks of Fiat Chrysler Automobiles.