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Chrysler To Get $1.5B Gov't Bailout Loan
Loan Comes After Similar Support Given To GMAC
Friday, January 16, 2009 – updated: 11:18 am PST January 16, 2009
WASHINGTON -- The government said it will provide a $1.5 billion loan to the auto financing arm of Chrysler LLC. The Treasury Department said the new aid will be in addition to a package of loans provided to both Chrysler and General Motors Corp. last month in an effort to buy time for the two companies to reorganize. The $1.5 billion loan to Chrysler Financial comes after the government provided similar support to GMAC, the auto financing arm for General Motors.
Copyright 2009 by The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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