Auto industry to congress - Where's the love?
After the FNM/FRE news, GM and Ford must have figured they got short changed with the $25 billion of loan guarantees they got in last years energy bill.
Note that these loans would cover 30% of the cost of retooling for energy efficient cars and trucks. Who do they think will be dumb enough to loan them the rest? If $50 bill is 30% of what they need, they don't have anywhere near the cash required to complete this build.
Funny, Toyota and Honda don't seem to need gov't loan guarantees to build energy efficient cars and trucks.
Short rant, comments welcome.