GM Seeks as Much as $16.6 Billion in New U.S. Aid Feb. 18 (Bloomberg) -- General Motors Corp. asked the U.S. for as much as $16.6 billion in new loans, more than doubling the aid to date, and said it needs some of the cash next month to survive as it sheds brands and cuts 47,000 more jobs worldwide. 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. Now isn't this a sticky wicket? I do not envy Mr. Obama in this situation. There is a lot riding on this, although I do think the auto makers are making it a little more dire than it is, as if they don't the public sentiment will not be sufficiently scared to move their representatives to pass the buck so to speak. I think Mr. Obama will have to take a strong and perhaps unfavorable stance on this one, but I don't see how he can take any other position. Sometimes you have to let the old dogs die, sometimes you have to put them ...
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