Thursday, January 8, 2009

Treasury to Ford: Drop Dead

[HT:MC]
When the Bush Treasury decided to bail out Detroit, GM and Chrysler quickly said yes to the taxpayer cash, but Ford Motor Co. said it didn't need the money and declined. Ford's reward for this show of self-reliance?

Treasury is now helping GM again by giving it a credit pricing advantage against Ford in the marketplace. That's one little-noted result of Treasury's action earlier this week to rescue GMAC...

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