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The Water Cooler
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Why did these 5 American car brands die?
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<blockquote data-quote="MP43" data-source="post: 3693702" data-attributes="member: 1631"><p>That's correct. The Troubled Asset Relief Program (TARP) provided a combined $79.69 billion to GM, GMAC and Chrysler. Ford supported the move because it feared many of its suppliers wouldn't survive GM and Chrysler both going bankrupt, but didn't take any of the money. About half of those funds have been paid back. </p><p>Ford did receive a six billion government loan in 2009, but it was through the Dept. of Energy to help pay for retooling to produce more fuel efficient cars. No bailout funds were involved. From what I gather, every payment on the six billion has been made in full and on time.</p></blockquote><p></p>
[QUOTE="MP43, post: 3693702, member: 1631"] That's correct. The Troubled Asset Relief Program (TARP) provided a combined $79.69 billion to GM, GMAC and Chrysler. Ford supported the move because it feared many of its suppliers wouldn't survive GM and Chrysler both going bankrupt, but didn't take any of the money. About half of those funds have been paid back. Ford did receive a six billion government loan in 2009, but it was through the Dept. of Energy to help pay for retooling to produce more fuel efficient cars. No bailout funds were involved. From what I gather, every payment on the six billion has been made in full and on time. [/QUOTE]
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Why did these 5 American car brands die?
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