The House of Representatives on Wednesday approved a $25bn package of low-cost loans to help hard-pressed carmakers and their suppliers finance plant modernisation at a time of restricted access to public capital markets.
The automotive loans are separate from the proposed $700bn bail-out for the banking sector, which is still being debated in Congress. The House approved the measure 370-58, setting the stage for Senate approval within days. [Read]
Is there no end to the abuse we will take at the hands of these corrupt politicians? It there anyone in Washington that even knows how the free-market is supposed to work? Or is it just a continued accumulation and centralization of power? Apparently, the answer is obvious...