Bush caves, TARP funds get raided for a use that was never discussed during the legislative process, and the UAW gets its bailout. Of course, the market has been losing ground again lately; something had to be done to perk it up, and as bailouts go, this one isn’t so expensive. Happy Friday, everyone.
GM and Chrysler to Receive Up to $17.4 Billion in Loans
I was taught that when you find you have dug yourself into a hole, the first thing to do was stop digging. I guess no one in either Detroit or Washington has learned that–yet.