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Old 01-12-2009, 10:26 AM
 
Location: Michigan
29,391 posts, read 55,602,856 times
Reputation: 22044

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DETROIT (AP) -- General Motors Corp.'s chief operating officer said Monday that the automaker has presented a worst-case scenario to Congress in which it would need more money than the $13.4 billion allocated by the Treasury Department.

GM exec says automaker may need more gov't money - Yahoo! Finance (http://finance.yahoo.com/news/GM-exec-says-automaker-may-apf-14029205.html - broken link)
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Old 01-12-2009, 10:27 AM
 
272 posts, read 408,033 times
Reputation: 102
what do they do with this money?
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Old 01-12-2009, 10:32 AM
 
2,265 posts, read 3,733,329 times
Reputation: 382
Obama will give them plenty of money.
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Old 01-12-2009, 10:38 AM
 
3,292 posts, read 4,474,877 times
Reputation: 822
The idea with the initial loan was to give the car companies enough time for the present administration to deal with the situation.
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Old 01-12-2009, 10:40 AM
 
Location: Raleigh, NC
9,059 posts, read 12,972,786 times
Reputation: 1401
Quote:
Originally Posted by paullySC View Post
Obama will give them plenty of money.
He'll give them plenty of green paper things. Whether it's actually money is up to Americans to judge in the coming years, although I'm sure the government will "compel" others to believe it still is "legal tender for all debts public and private"
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Old 01-12-2009, 01:30 PM
 
Location: Florida
1,782 posts, read 3,942,377 times
Reputation: 964
Quote:
Originally Posted by lostdestroyedlife View Post
what do they do with this money?

Federal Bailout money:

Treasury Department------->GM------->UAW (The end).
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