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politico.com - 12/19/2008
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Mike Allen has the details:
President Bush is announcing a $17.4 billion bailout for auto manufacturers, with the loans contingent on the firms proving that they can become "viable" ongoing firms.
Of the total, $13.4 billion will be paid out in December and January The last $4 ...
didthebailoutwork.com - 12/18/2008
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didthebailoutwork.com —
Finance company debt purchases Buys debt issued or
backed by government-chartered housing-finance companies including Fannie Mae and
Freddie Mac in an effort to reduce their debt costs and thereby lower mortgage rates
(more)
Did the bailout work?
yglesias.thinkprogress.org - 12/22/2008
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yglesias.thinkprogress.org —
Looks to me like the $700 billion rescue
package may have been $1.6 billion too large :
Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated ...
(more)
Sweet Bailout
politico.com - 12/19/2008
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politico.com —
It would have been a different campaign had
McCain sounded in September like he does today: I
regret the President’s decision to give away over $17 billion to the domestic automakers. Just last week, the Senate rejected a bailout plan ...
(more)
McCain against the bailout
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Bush Bails Out Detroit
Weekly Standard Blog —
... firms proving that they can become "viable" ongoing firms.
Of the total, $13.4 billion will be paid out in December and January The last $4 billion is contingent on the second installment of the Wall Street bailout funds from Congress.
The announcement immediately affects GM and Chrysler, not Ford, administration officials said.
The firms do not have to be profitable but have to be "profitable soon," a senior administration official said.
Via Ben Smith
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