Finally, the voting took place, with congress votes of 237 vs 170, the bill for passing $14 Billion loans to GM and Chrysler was passed. Honestly speaking, thou I hope to see GM and Chrysler's turnaround, but don't forget, these $14 Billion are not magic potions, and GM declared crisis and seek for help 2 months back when their cash flow runs at a low $20 Billion, with fears that they might not even last through 2008, now with an extra of a few billion, all I can see is that these $14 Billion, merely act like bandages and extra ammunition for soldiers, so they could continue their battle out there, of which the outcome remains grim.
Thursday, December 11, 2008
White House approves $14 Billion loan!
Finally, the voting took place, with congress votes of 237 vs 170, the bill for passing $14 Billion loans to GM and Chrysler was passed. Honestly speaking, thou I hope to see GM and Chrysler's turnaround, but don't forget, these $14 Billion are not magic potions, and GM declared crisis and seek for help 2 months back when their cash flow runs at a low $20 Billion, with fears that they might not even last through 2008, now with an extra of a few billion, all I can see is that these $14 Billion, merely act like bandages and extra ammunition for soldiers, so they could continue their battle out there, of which the outcome remains grim.
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