The Auto Industry Bailout Essay

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“The Auto Industry Bailout”
For years three automotive companies have been the top automotive industries in the country making the most money. But now with the economic crisis and a high demand for more economic vehicles, this recession has one of the top companies begging for economic relief and trying to demand the government to pass a bailout. This bailout will give them enough money to rebuild their debts and recover all their financial situations. These three automotive companies that were in debt were General Motors, Ford, and Chrysler. During these past years these automotive companies were criticized in this process and many arguments were made against their efforts whether they should close down these companies because of debts or for not making a high percentage in car sales. Other companies such as Honda and other foreign companies were rising above these companies sales and this made them fall behind their costs for their industry expenses. This led to extreme debt which made them lose many of their workers and really put them in danger of losing their business. This led to the argument of the government to lend a loan for these companies so that they would regain their business in order and to put out Obama on this difficult political task of improving their future.
This bailout that was passed guaranteed 13.4 billion dollars in loans to these three companies that would be given to them to start recovering from this economic disaster. This also means that congress will give these companies a few months to start repaying the borrowed money that these industries requested. These companies will also receive an additional 4 billion dollars by February,2009. The government gave these industries a deadline where they are going to have to repay them on March 31, 2009. These companies assured that they will find a solution to their problem, saying that they were willing to make hard decisions that will actually save their industry.   Almost have of that...

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