Executives of General Motors, Ford and Chrysler are optimistic about their chances of getting inexpensive federal loans to help tide them through the credit crunch and sales downturn.
The discussions, which have come to light in recent weeks, have the execs smiling like possums not only because the government set a precedent by bailing out Wall Street, but also because itâ??s an election year.
Theyâ??d like to see Congress OK the loans this fall. And it would be difficult for John McCain and Barack Obama to say â??Noâ?? to the swing state of Michigan as well as the auto-dependent states of Ohio and Indiana, which also are in play this November.
Should the government offer the loans?