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BREAKING NEWS: House OKs $14 Billion Auto Bailout

personalmoneystore.com — House of Representatives approved a $14 billion bailout for the Big 3 auto makers. Even large corporations have a way to get payday loans, even if it is from the government. The Big 3 American auto makers, Chrysler, General Motors, and Ford have been begging Congress for financial help. The House cast its vote tonight in favor of the bailout.

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  • RQJenkins, on 12/11/2008, -0/+1The $14 billion bailout for Chrysler and GM passes the House, and is headed for the Senate for the vote. The $14 billion is being extended to those companies as a loan to keep them afloat, whilst Ford is only requesting a line of credit, if needed, which is not covered under this bailout loan. The bailout comes with certain restrictions, like eliminating bonuses for the top 25 employees, and other concessions.
  • vkingston, on 12/11/2008, -0/+1I’m glad this proposal seems to make sense to the big dawgs in the House. I’m certain this will help our economy out of this current economic turmoil.

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