Bush decided $17.4 bil bailout to GM, Chrysler
President Bush announced $13.4 billion in emergency loans to prevent the collapse of General Motors and Chrysler, and another $4 billion available for the hobbled automakers in February 09, with the entire bailout conditioned on the companies undertaking sweeping reorganization plans to showthat they can return to profitability quickly.
Canada
Moving to pre-empt a possible shift of auto production to the United States, the governments of Canada and its Ontario province offered the industry 4 billion Canadian dollars in emergency loans on Saturday, Dec 20, 2008.
Unlike the $17.4 billion package announced by President Bush, the Canadian plan, roughly $3.3 billion, is remarkably short on detail, at least publicly
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