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Old 12-17-2008, 02:56 AM   #1
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Default Report: Auto Loans Could Come by Friday

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Report: Auto Loans Could Come by Friday

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David Shepardson from the Detroit News: Treasury Department officials are weighing the condition of the nation's banks before they loan money to General Motors and Chrysler, possibly by Friday. Treasury Secretary Henry Paulson said automakers would soon get emergency loans but the department is still asking detailed questions of automakers before it allocates any money from the $700 billion Troubled Asset Relief Program, or TARP.

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Old 12-17-2008, 06:36 PM   #2
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Default Re: Report: Auto Loans Could Come by Friday

So Paulson doesn't want to give the automakers a loan until he's made sure his cronies at AIG don't need more.

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Old 12-17-2008, 06:40 PM   #3
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Default Re: Report: Auto Loans Could Come by Friday

I think instead of giving the automakers loans, the government should just buy us all a new GM, Ford, or Chrysler vehicle!

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Old 12-17-2008, 07:24 PM   #4
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Default Re: Report: Auto Loans Could Come by Friday

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Originally Posted by VTHokie00SL2 View Post
I think instead of giving the automakers loans, the government should just buy us all a new GM, Ford, or Chrysler vehicle!

There are some people who believe much of the auto crisis is in large part due to lack of available credit for customers. In some ways your idea might be very helpful even if it involved 0% loans being made available to buyers rather than outright gifts. I'm not sure how all the involved money would be divided among retailers and the manufacturers but it would move product off both dealer lots and manufacturers storage areas and provide cash flow to both the national manufacturers and local retailers. I'll stop dreaming though before I pick out my new Saturn Aura, because this isn't going to happen any more than my state is going to give me game tickets at the NFL stadiums they helped finance.

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Old 12-18-2008, 08:51 PM   #5
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Default Re: Report: Auto Loans Could Come by Friday

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Originally Posted by VTHokie00SL2 View Post
I think instead of giving the automakers loans, the government should just buy us all a new GM, Ford, or Chrysler vehicle!
A novel idea, Hokie, but I fear that the government would then turn around and want to be reimbursed once the good times return! IMO, there's no such thing as a free lunch. Either now or later through our hard earned tax dollars, we'll pay for those cars. The Detroit automakers are better off being loaned the money or driven (no pun intended) to bankruptcy protection.


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Old 12-18-2008, 10:39 PM   #6
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Default Re: Report: Auto Loans Could Come by Friday

If my tax dollars go to these idiots,I think all GM owners should have warranties extended to 5yr/100k..(Not Chrysler though..Shouldn't reward bad judgement)
I know how I'll feel after they recieve the bailout and pull the smug "can't recreate the problem til warranty expires" stunt.

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Old 12-19-2008, 12:44 AM   #7
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Default Re: Report: Auto Loans Could Come by Friday

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Originally Posted by RedL300 View Post
If my tax dollars go to these idiots,I think all GM owners should have warranties extended to 5yr/100k..(Not Chrysler though..Shouldn't reward bad judgement)
I know how I'll feel after they recieve the bailout and pull the smug "can't recreate the problem til warranty expires" stunt.
Is it only Saturn (or newer ones) that already have the 5yr/100k warranty or are any of the other GM cars included?

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