It begins...."Companies start competing for bailout money"
http://biz.yahoo.com/ap/081025/bailout_bonanza.html
Saturday October 25, 2:53 pm ET
By Martin Crutsinger, AP Economics Writer
Insurance firms, auto companies and foreign banks petition for part of $700 billion bailout
WASHINGTON (AP) -- The bailout is now the hottest lobbying game in town.
Insurers, automakers and American subsidiaries of foreign banks all want the Treasury Department to cut them a piece of the largest government rescue in U.S. history.
The betting is that many with their hands out will be successful, especially with financial markets in a stomach-churning dive and predictions the economy is about to tumble into a deep recession.
These groups argue that the credit squeeze is so severe and the risks to the economy so dire that their industries need financial support as well.
The Treasury is considering requests from a variety of industries, but has not decided whether to expand the program, officials said Saturday.
Lobbying efforts are intensifying.
Continued: http://biz.yahoo.com/ap/081025/bailout_bonanza.html
I wonder if our company can petition for some of our
money back? :)
Free money!!!!
People at work keep asking me when the next IRS "economic stimulus" check will be sent out. They look at it like free money. I try to explain that the government never gives anything without taking more, but they cannot understand.
Empire Strikes Out
Pretty well covered in this video:
http://www.youtube.com/watch?v=XBT052jHnmE