Friday, December 12, 2008

Bailing out the wheels is not so easy

The 14billion$ dollar bailout proposal for the rescue of the three major auto makers of USA has been rejected by the Republicans. Although the representatives made requests for bailing out the auto sector for a huge 34billion$, the final amount was around 14b$, less than half of what was proposed. And with some conditions unacceptable like reduction of wages the deal has not gone through.

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