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Why did Ford tell Obama to take his bailout money and cram it up his butt?
6 Answers
- Anonymous3 years ago
Because prior to the recession, Ford had leveraged its entire holdings for a very large loan, to the tune of some $30-$40B that it used to recapitalize its operations under Alan Mulally. So they were not in need of being bailed out from bankruptcy as GM was.
There were also strings attached that would have given the incompetent and anti-capitalist Obama regime unwanted control and power over how the company was run, and Mulally was smart enough to see it was a bad deal, and only needed by GM and Chrysler who were in the process of going under.
It was surprising that GM got such a highly unusual bankruptcy agreement that screwed over creditors while generously allowing writeoffs from losses prior to the bankruptcy. It turned bankruptcy law on its head.
- Anonymous3 years ago
The government earned good interest bailing out the companies. Ford got loans elsewhere at better rates and conditions.
- electricpoleLv 73 years ago
They did not want the strings attached, and thought they were in a financial position to weather the storm on their own.
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- Call me IshmaelLv 73 years ago
Because the officers of Ford knew that there is no free money. That’s is something that General mothers officers have never learned. General Motors sold out to the devil.
- Anonymous3 years ago
because they never said that and Ford didn't need the money