lowecur
Well-known member
- Joined
- Sep 14, 2003
- Posts
- 2,317
Well, our Big Three Automakers are now looking for low interest loans to the tune of up to $50B so they can transform their existing facilities (Truck, SUV, Auto) to the more competitive hybrid and PHEV platforms of the future. Credit Markets are dead, and there isn't an investment firm, bank, or international auto mfg'r in the world dumb enough to believe they can succeed.....except you guessed it....our politicians, riding the backs of the USA taxpayer.
It looks like Fannie and Freddie will be nationalized in the next 30-60 days, thus sticking us taxpayers with another bailout that will be huge. The Feds will probably let Lehman and possibly another large Wall St Bank either merge or disappear. Then you could see a major Commercial Bank sell it's profitable parts and then just disappear (maybe Citi).
Well just where does this leave the airlines? You can rest assured that a couple of biggies will be lobbying Congress for room at the trough in the not too distant future. Look for Congress to either let them go under or open up the good ol USA for foreign takeovers.
It looks like Fannie and Freddie will be nationalized in the next 30-60 days, thus sticking us taxpayers with another bailout that will be huge. The Feds will probably let Lehman and possibly another large Wall St Bank either merge or disappear. Then you could see a major Commercial Bank sell it's profitable parts and then just disappear (maybe Citi).
Well just where does this leave the airlines? You can rest assured that a couple of biggies will be lobbying Congress for room at the trough in the not too distant future. Look for Congress to either let them go under or open up the good ol USA for foreign takeovers.
imp:
http://www.latimes.com/business/la-fi-autoblog23-2008aug23,0,7610189.story