Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Companies start competing for bailout money

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

MARTIN CRUTSINGER
AP
Sunday, Oct 25, 2008

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.

(Article continues below)

Companies start competing for bailout money  161008pptv2

The Treasury is considering requests from a variety of industries, but has not decided whether to expand the program, officials said Saturday.

  • A d v e r t i s e m e n t

Lobbying efforts are intensifying.

The Financial Services Roundtable wrote Treasury officials on Friday requesting that the initiative to buy $250 billion in bank stock grow to cover insurers, auto companies, securities dealers and U.S. subsidiaries of foreign companies, including banks. The Treasury’s plan is intended to bolster banks’ tattered balance sheets and get them to resume making loans.

Full article here

This article was posted: Sunday, October 26, 2008 at 6:15 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
The Truth About the Michael Brown Shooting See the rest on the Alex Jones YouTube channel.

Cop: Get a Gun, We Can't Protect You From Ferguson Violence See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.