TwinTurbo.NET: Nissan 300ZX forum - you're right, I misunderstood the 'Fed' system
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Subject you're right, I misunderstood the 'Fed' system
     
Posted by vorpalZed on May 21, 2019 at 9:48 PM
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In Reply To I dont know how it works in Canada, but the Federal Reserve posted by LJZTT on May 21, 2019 at 06:12 PM
     
Message I should have said 'TARP'

However, if you read the link I posted, it is a neat summary of the GM/Chrysler (and yes, Ford... they did get some) bailout and subsequent government ownership of GM.

I find it ironic you hold up GM as being years ahead of Tesla when it was basically

- run bankrupt by their management
- bought out and restructured by the Federal Government
- kept afloat with billions in TARP funding
- their stock dropped below $1/share requiring further bailouts
- GMAC and Chrysler Finance given further massive loans to incentivise low interest rate vehicle purchasing
- further kept afloat with stock sales that turned worthless to investors
- Government guarantees on vehicle warranties
- Repayment of loans that fell well short of the initial investments made by the Government

And you're all Paul Revere on Tesla? When it comes to unsustainable business practices and milking the Federal Government to keep them going... they got nothing on the General.

     
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