Ford applied for $11 billion dollars from the Department of Energy’s Advanced Technology Vehicles Manufacturing program (ATVMP). It received $5.9 billion, payable over 25 years. They are applying for another $5.1 billion. The mainstream media meme—that The Blue Oval Boyz are “pure” capitalists untainted by the stink of federal handouts—is bunk. Lest we forget, the DOE loans were the original bailout: a thinly disguised attempt to channel funds to the domestics. The money pays for retooling that the recipients would otherwise have to fund—freeing those funds for other purposes. Keep the lights on kinda stuff. When the “viability” requirement made the DOE loan a moot point for Chrysler and GM, THEN they headed off for “bridge loans.” Which became an investment in shares or, in Chrysler’s case, a partial write-off. Oops! Question: does anyone believe the DOE loans will help ensure that Americans drive more fuel-efficient vehicles? Anyway, Ford is on the take. Period.
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