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Argument: US should make low interest loans to automakers

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Supporting quotations

Steven Pearlstein. "The Road to a Bailout They Don't Deserve". The Washington Post. 3 Sept 2008 - "the best of a set of bad options might be for the government to step in and provide the Big Three with low-interest long-term loans, just as it did years ago with Lockheed and Chrysler. The government should insist that its loans get first priority and be used only for investment in new technology that can be shared with competitors, or in new plants and equipment that could be sold to other car companies in the event of a bankruptcy. The government might also insist on further cuts in shareholder dividends, executive salaries, blue-collar wages and retiree benefits, at least until the current crisis has passed."


Jeff Probst, CEO, Blue Sun Energy, a Golden, Colo.-based integrated agricultural-energy company that makes biodiesel: "It is important that the automakers are not given a bailout, but rather a loan that needs to be repaid. When the banking system is not there with credit, the government may have to be the lender. Tough loan terms will motivate the Big Three to do what they must to repay the loan."[1] (Inc. Magazine, November 2008).


"Auto companies not to blame". The Saginaw News. 25 Nov. 2008 - First, the auto companies asked for a loan, not a bailout, which they would have to pay back at a requested low interest rate.

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