05 April 2009

Federal Loans to Automakers Currently Unprotected?

Tony Clement is reported to be "preparing" a Plan B "to protect the taxpayer-backed loans, should the automakers fall into immediate trouble."

Why wouldn't such a plan already be in place? What is protecting taxpayer-backed loans now? Nothing?

The photo shows what can happen when the wheels fall off, as seems likely to happen to GM and Chrysler sooner rather than later.

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