Comment: You know, I too wished it were so, but unfortunately for

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You know, I too wished it were so, but unfortunately for

those of us who abhor the Federal Reserve, here's the real skinny on Ford: like everyone else, they too received a Fed. Reserve Bailout.

I don't think many realize this, but most car companies don't make 'money' on cars: they make 'money' on your monthly debt. Their 'credit' division it their real bread and butter, ie. GMAC, Ford Credit, etc.

Yeah, but without all of y'all and Dr. Ronald Ernest Paul's tireless efforts, we would've NEVER found out about the details of Fed. Bailouts. So suppose that part of the news is good.


Walking Irony:

Yup, it seems there ain't a SINGLE large, successful American company who is not in knee deep drowning in Fed's funny 'money.'

Checkout Agora Financial's knock on Ford's motto: Ford, built FED-tough!

Tell me about it; I too am a big fan of their F-series trucks. But Chrysler is now Fiat. GM is fully Govt Motors, no matter what WH says about 'selling it back' or what GM management says about 'already paid back the bailout package,' etc.

Even Harley Davidson got bailed out. So for the American air-cooled V-Twin enthusiasts, that leaves you with S&S motors and a few small volume HD-clone mfrs., and Victory/Polaris (who just purchased Indian in 2011!).

Then again, the company that everyone thought was profitable? Even Toyota got bailed out, too!

Allegedly in case of Ford? Try SEVEN BILLION DOLLARS:

Blue Ops: The Clandestine Bailout Of Ford

By Bertel Schmitt on December 21, 2010

One of the many reasons for Ford’s surging market share are Americans who refuse to buy a car from a company that has been bailed-out with their tax dollars. In survey after survey after survey, Americans took issue with the bailouts. The backlash was so severe that one of the first measures Joel Ewanick implemented at GM was to get rid of GM. He replaced “General Motors” with “the parent company.” Smart move: You can be against Government Motors. But who dares to be against parenthood?

Ford meanwhile rode high on the perception that they didn’t accept a single dollar. “Ford did not seek a government bailout,” says a very recent Rasmussen Report, “and 55 percent of Americans say they are more likely to buy a Ford car for that reason.”

Americans (and possibly GM and Chrysler) are the victims of a big lie, says Wall Street insider Eric Fry. And he has the numbers to back it up.

“During the crisis of 2008-9, for example, Ford Motor Company borrowed as much as $7 billion from a lending facility of the Federal Reserve. But the details of these borrowings did not come to light until just three weeks ago. And even now, very few investors – or car-buyers – seem to realize that GM and Chrysler were not the only “Big 3” car companies to receive a helping hand from the government. Ford also cashed a few government checks.”


More articles:

Ford, BMW, Toyota Took Secret Government Money

Ford spokeswoman Christin Baker said the two programs "addressed systemic failure in the credit markets, and that neither program was designed for a particular company, or even a particular industry." Ford Credit has disclosed through SEC filings and conference calls with media and investors that it was taking part in both programs.

Justin Hyde
12/02/10 4:00pm

In the depths of the financial collapse, the U.S. Federal Reserve pumped $3.3 trillion into keeping credit moving through the economy. It eventually lent $57.9 billion to the auto industry — including $26.8 billion to Ford, Toyota and BMW.

The Fed on Wednesday was forced to reveal the identity of the companies it aided during the crisis, after contending to Congress that keeping their identities and the details of such lending secret was essential. Much of Wall Street, and corporate giants such as General Electric, Harley Davidson and McDonald's, took advantage of the Fed's help. We've done the math on how the Fed propped up the auto industry.

While Chrysler and General Motors had to go to Congress to beg for cash in 2008, every other automaker's finance arm was having trouble as well. Typically, once they lend money to a buyer, they sell the loan, get the cash upfront, then pump the proceeds back into the business. They also take out short-term loans called commercial paper that keeps the day-to-day business afloat. The crash cut the circuit, raising the chances the automakers couldn't make loans to buyers and keep selling new vehicles.


Did Ford take 'secret government money' while earning praise for avoiding bailout?

Jonathan Oosting | |
December 04, 2010 at 8:57 AM
Updated December 04, 2010 at 10:37 AM

Bottom line? Yes, Ford's credit arm participated in a federal program meant to free up short-term lending at a time when very few investors were spending. It's no secret.

Ford Motor Co. earned a great deal of consumer respect when it returned to health without the need for a federal bailout accepted by General Motors and Chrysler.

But did Ford actually take "secret government money" to help it stay afloat?

That's the controversial contention made this week by former Detroit Free Press auto reporter Justin Hyde, now writing for Jalopnik.

As Hyde points out, the federal government on Wednesday revealed the indentity of companies it aided during the financial crisis through the Federal Reserve's Commercial Paper Funding Facility.


Former Auto Industry Insider, now blogger, and... an on again off again 'Ron Paul leaning-ish, but not really':

The Other Auto Bailout: Ford, Toyota, … and Harley Davidson?

Posted on August 23, 2011 by emptywheel

As I noted yesterday, Bloomberg has made some really cool visual tools showing the lending the Fed did over the years.

So I wanted to use it to show the other auto bailout: lending to Ford and Toyota at a time when the auto market was fragile and credit was scarce.

Showing them side-by-side makes it clear that at the same time the government was discounting GM and Chrysler’s claim that unavailability of credit was a big part of their woes (and making them beg harder to get credit from the government), the Fed was providing credit to both Ford and Toyota.

*** Guess I should either walk, or find me a project car or motorcycle from the days when America actually built stuff, if I'm looking for American-made modes of transportation.o(

I so F'ng HATE the Fed! arghghghg!

Well, anyone got $100,000 laying around for a RallyFighter? lol.D

Predictions in due Time...

"Let it not be said that no one cared, that no one objected once it's realized that our liberties and wealth are in jeopardy." - Dr. Ronald Ernest Paul