With President Obama’s signing of the Craptastic Stimulus Bill today, I have no doubt that GM and Chrysler will get exactly what they ask for, although they should get exactly what’s coming to them instead.
Sphere: Related ContentGeneral Motors Corp. said it needs as much as $16.6 billion in new U.S. loans, more than doubling the aid to date, and must get some of the cash next month to survive. GM plans 47,000 more job cuts worldwide this year.
Chrysler LLC, propped up like GM with federal assistance, said it’s seeking $5 billion more from the government and will shed 3,000 more positions.
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