Showing posts with label Special Interests. Show all posts
Showing posts with label Special Interests. Show all posts

Wednesday, October 1, 2008

GImme some money too

As long as Congress is writing legislation to bail out Wall Street and banks, the car industry figures it should get a piece of the pie as well.

U.S. Auto Makers Seek Bailout for Bad Car Loans reads the headline. The original $700 billion Wall Street deal, which was rejected by the House on Monday, included a substantial bailout for auto lenders. These companies hold a stable of bad auto loans that could shrink in value and hurt both the lenders and the vehicle makers. This bailout would have been separate from the $25 billion in low-cost loans for U.S. auto makers that President Bush signed into law Tuesday.

Wanna talk special interests? They got $25 bil, and they want more.