by Calculated Risk on 12/18/2008 09:08:00 PM
Thursday, December 18, 2008
GM and Chrylser Bailout Plan might be announced Friday
From Bloomberg: GM, Chrysler Said to Be Poised for U.S. Loans to Get Into March
General Motors Corp. and Chrysler LLC would get U.S. loans to stay afloat until March under a Bush administration rescue plan that may be unveiled as soon as today ...We are all banks now!
The Treasury Department may lend to the automakers through their credit arms, GMAC LLC and Chrysler Financial, to avoid having other industrial companies line up for access to the $700 billion Troubled Asset Relief Program ...