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Originally posted by saleen449
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Bless youhttp://dfwdirtriders.com/ New Website for the off road peeps -
Ford got bailout money too. Just saying.WRX
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Not to the same extent that GM and Chrysler did. It was only Ford's credit arm.Originally posted by mustang_revival View Post
From mlive.com:
Hyde correctly points out that Ford's credit arm registered to sell the federal government around $16 billion in commercial paper. Like the financing wing of most automakers -- Toyota, BMW, GMAC and Chrysler also participated -- Ford found itself in need of liquidity when the lending markets dried up.
But what Hyde (and more glaringly, his headline) incorrectly suggests is that Ford's borrowing was a secret. Spokeswoman Brenda Hines told Bloomberg back in October of 2008 that Ford Credit had applied for the program.
Fellow Ford spokeswoman Christin Baker this week pointed out that Ford reported its participation in the CPFF in its public SEC filings. She also said Ford participated in the Federal Reserve's Term Asset-Backed Security Loan Facility, noting that "these two programs addressed systematic failure in the credit markets, and that neither program was designed for a particular company, or even a particular industry."Atlantic Blue '00 - '03 Cobra motor and TKO600, solid axle, full MM suspension
Silver '01 Vette - D1 blown LSComment
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Why not negotiate and get to a price and then drop the preferred plan card on them?An invasion of armies can be resisted, but not an idea whose time has come.
-Victor HugoComment
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