Treasury Secretary Paulson Says Auto Industry Falls Outside Scope of TARP
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On Capital Hill, Treasury Secretary Paulson, recently said he feels that the Automotive institutions fall outside the scope of the TARP program.
Note General Motors (NYSE: GM), Ford (NYSE: F), American Axle (NYSE: AXL), Johnson Controls (NYSE: JCI), Visteon (NYSE: VC), TRW (NYSE: TRW), Magna Int'l (NYSE: MGA), and Borg Warner (NYSE: BWA)[SM]
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Auto Industry Bail Out
Chip on Nov 24, 2008 10:47 AMThe fact is, the Government has to help the auto industry for two reasons. 1. Not to do so would be too costly for our nation in unemployment benefits, and loss of purchasers of other goods. 2. Not to do so would be political suicide for the poliicians. In light of this, the Union has to be run by idiots to thind that concessions in benefits ad pay do not have to be given.