President of Chrysler:
"[As a condition of loan] We fully welcome the government as stakeholder, including as an equity holder [part owner]."
Wow I live in an interesting and scary time. I still don't get it though. If the problem is still largely liquidity and consumer's not buying autos in large part due to lack of financing, why don't we just take $25 billion or $50 billion and provide tax rebates to purchasers of automobiles with relatively high MPG. That helps consumers, helps the environment, helps automakers (from Japan or the USA or wherever).... It is true the effect on stimulating demand, dollar-per-dollar, would be less than government spending or a loan provided directly to US automakers, but it would still be substantial, and frankly seems a little easier pill to swallow.