From the Wall Street Journal…..
The U.S. Department of Energy is working to release $5 billion in loans to General Motors Corp., according to a person familiar with the matter, a move that could help ease the way for the auto maker’s discussed merger with Chrysler LLC.
This is a surprise only because I have not been paying attention. Apparently the auto makers bail out was always supposed to be coming through the Department of Energy. The next thing I know, I will be finding out that the State Department will be handing out cash to international companies.
And doesn’t the part about helping a stupid merger go through make you sick? I mean, what is the point of using government money to tie two sinking ships together?