Auto Loan Still Waiting

As the government continues to bail out the banking industry, the auto loan industry is still waiting for their assistance. Originally approved for their help first, it was put on the back burner while the banking industry took front and center in their minds. However, the auto industry is still waiting patiently for the help that they were promised.

But if you turn on the news or read a newspaper you will see that the banking industry is still getting more help, and the auto loan has yet to be realized. The big three, Chrysler, General Motors, and Ford, are still hoping for their auto loan, while getting a new set of rules from the government.

The original conditions of the auto loan have changed, and the government keeps trying to get them to bring them more info and “jump through more hoops” all the while still throwing money at the banks. Even while doing everything they have been asked, the big three have never truly taken their case public, even though those that work for them are fully aware of what is at stake.

The big three are worried because they know that all that stands between keeping more than a million people out of work is the $25 million auto loan. The problem is that the big three don’t really have the allies in Congress that the banks do. Congress has made it very easy on the banking industry giving them pretty much whatever they want – while the auto makers have had to pull out all the stops to try and get their auto loan.



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