Quote:
Originally Posted by SP01715
The Ford family would get payed nothing if they recieved government help because all their income comes from stock dividends. I think that is the main reason they are not accepting money.
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The real reason is that Ford was lucky enough to refinance their short term debt PRIOR to the current financial mess with the banks. GM and Chrysler were unlucky enough to have to refinance their short term debt after the banks became unable to make NEW loans due to their toxic assets. Since GM and Chrysler cannot get the banks to refinance their short term debt, they are asking the government to LOAN them money (which is different than asking for a handout). Then you get politician involved with GM and Chrysler..., which is why Ford is lucky they timed their refinancing when they did.
Notice that I said the GM and Chysler are asking for LOANS from the government. Are the banks asking for LOANS? No. The banks want to get rid of their toxic assets, which is what the government originally said they would buy. Hmm, maybe I could sell the contents of my septic tank to the government instead of paying someone to empty it every few years... But is the government buying the toxic assets, or are they buying up shares in the banks and forcing mergers instead?