Problem banks paying back government loans...with interest
Tags: BAILOUTS (Finance); BANKING industry; AMERICAN International Group Inc.; CHRYSLER Corp.; GENERAL Motors Corp.
Related Articles
- Detroit Bailout Hurts Everyone Else. Hensarling, Jeb // Human Events;1/5/2009, Vol. 65 Issue 1, p1
The author opposes the Troubled Asset Relief Program bailout for Chrysler and General Motors (GM) which are based in Detroit, Michigan. He predicts that the requirements set by U.S. President George W. Bush will not be met because of the Democratic Congress and administration and that the bail...
- Restoring the Detroit 3. Miller, Chris // Motor Age;Jan2009, Vol. 128 Issue 1, p47
The article reports on the $13.4 billion bail-out program approved by the U.S. government to help the struggling Chrysler and General Motors be stable for at least until the first quarter of 2009. It is revealed that the $13.4 billion relief money will come from the Troubled Asset Relief Program...
- Bush Delivers $17.4 Billion; Detroit Exhales. Amend, James; Pope, Byron; Mayne, Eric // Ward's Auto World;Jan2009, Vol. 45 Issue 1, p8
The article reports that U.S. President George W. Bush provided Detroit automobile makers General Motors Corp. (GM) and Chrysler LLC with $17.4 billion in low-interest loans. The move was meant to save the automobile makers from bankruptcy and provide rescue plan for them. GM will immediately...
- Big Three stay alive. McLaughlin, Kathleen // Indianapolis Business Journal;12/29/2008, Vol. 29 Issue 44, p7
The article reports on the bailout asked by Chrysler LLC and General Motors Corp. in Detroit, Michigan. According to automakers, they would run out of cash in 2009 that would result to reducing of jobs. In response, the Bush administration offered $17.4 billion in loans in exchange for...
- General Motors warns it could run out of cash. Fernandez, Joe // Marketing Week (01419285);11/6/2008, Vol. 31 Issue 45, p43
The article reports that an operating loss of 4.2bn dollars has been recorded by General Motors Corp. (GM) in 2008's third quarter. The firm has warned that it will run out of cash in the first half of 2009 if economic and market conditions do not improve. As stated, it is now lobbying for a...
- U.S. agriculture playing by the rules so don't expect kudos from government. Hollis, Paul // Southeast Farm Press;5/6/2009, Vol. 36 Issue 13, p5
In this article the author discusses the move of the U.S. government to bail out automobile companies General Motors Corp. and Chrysler Corp. He emphasizes the importance of considering whether the automobile industry is worth saving. He also disagrees on the notion that the country was founded...
- U.S. automakers still spinning their wheels. Feroli, Michael // ABA Banking Journal;Jun2009, Vol. 101 Issue 6, p44
The article reports on the state of the U.S. automobile industry which was hit by recession. Both Chrysler and General Motors needed government support to continue their operations following an extended period of several financial problems. It is expected that automakers are unlikely to see...
- Lawmakers' auto disdain no surprise. Tucker, Brian // Crain's Cleveland Business;12/8/2008, Vol. 29 Issue 49, p6
The author offers his comments about the bailout of the big three automakers including Ford Motor Co., General Motors Corp. and Chrysler Corp. in the U.S. He comments on Senator Richard Shelby's disagreement on the billion dollar auto bailout. According to Shelby, the financial situation faced...
- Crunch time. // Crain's Cleveland Business;4/13/2009, Vol. 30 Issue 15, p10
The article presents the author's comments on the bailout package to General Motors Corp. (GM) and Chrysler LLC. The author says it was unprecedented when the administration of U.S. President Barack Obama asked GM chief executive officer (CEO) Rick Wagoner to step aside as part of the GM...
