Friday, December 19, 2008

Auto Bailout: $13.4 Billion Sticker Shock

From Politico.com:

"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 billion is contingent on the second installment of the Wall Street bailout funds from Congress."

Here is the full story.