Over the past few years the US has bailed out many institutions and Big Businesses. Some are well known, however many are not. Of the more recent highly publicized Big 3.
January 2009, the government used $24.9 billion of the $700 billion bailout fund for the Big 3 auto companies:
- $17.4 billion for General Motors and Chrysler.
- $6 billion for GMAC.
- $1.5 billion for Chrysler Financial.
The purpose of the loans was to provide operating cash for GM and Chrysler, and to keep making auto loans available for car buyers. Ford Credit planned to use funds from the Term Asset-Backed Securities Loan Facility (TALF),a government program for auto, student and other consumer loans.
In December 2008, the auto industry asked the government for a $34 billion bailout to avoid bankruptcy. The Big 3 stated that their demise would trigger 3 million layoffs within a year, plunging the economy further into recession. Cite: http://useconomy.about.com/od/criticalssues/a/auto_bailout.htm
So what happens:
“We have to help our Big businesses from failing & to protect jobs” is the echo of our wise [sic] bought Government. “We have to bail them out and stimulate the economy” by educating [sic] Brainwashing them to ‘believe’ and BOHICA those overtaxed, burden bearing, American patriot workers…(suckas)
US giant General Motors will invest $540 million to produce two low-emission motors in central Mexico, the company announced here Thursday, accompanied by President Felipe Calderon.
The latest project for GM in Mexico would create 500 direct and another 500 indirect jobs in its plant in Toluca, Calderon said.
GM has four plants in Mexico, and has invested some $5 billion here since 2006, Calderon said.
GM was left reeling by an industry slump when the global economic crisis hit. It received 49.5 billion dollars from the US Treasury and emerged from a bankruptcy restructuring in 2009.
It successfully returned to public trading last November by raising 23.1 billion dollars in an initial stock offering — the largest in history. Cite: http://redwhitebluenews.com/?p=14524
Sounds fair to me and to think we, the legal American taxpaying citizens pay for this. Then why are the illegals still coming here to the USA when all our jobs are going there and the unemployment rate is lower in Mexico then here in the USA?
Mexico’s Jobless Rate Drops To 9-Month Low In December
(RTTNews) – Mexico’s unemployment rate fell to a nine-month low of 4.94% in December from 5.28% in November, the statistical office INEGI said Friday. Economists had expected the jobless rate to fall to 5.05%.
However, the rate was higher than the 4.8% recorded a year ago. According to data adjusted for seasonal variations, the jobless rate was 5.55%, almost steady compared to 5.58% in November.
The unadjusted jobless rate for men was 5.25%, down from 5.53% in the previous month. The rate for women fell to 4.41% from 4.86% in the previous month, the agency said.
The underemployment rate was 6.4% with the number of underemployed amounting to 6.8% of the employed population. During December last year, the rate was 8.2%.
Something isn’t right here and I am annoyed.
In a sense they are holding true to the: ‘promised to fast-track development of energy-efficient vehicles, and consolidate operations’…