Government Garage
Update: The government is also backing warranties for GM and Chrysler. That is a key step towards bankruptcy. US backs warranties for GM, Chrysler (ht Stephen)
The US government Monday said it is guaranteeing the warranties of new vehicles bought from General Motors and Chrysler in a bid to boost consumer confidence and auto sales.
The Treasury Department said it had taken the temporary step to allay consumer worries about buying new cars from the two nearly bankrupt manufacturers that are on government life support. The new plan addresses fears that the new car warranties would be worthless if the companies collapse.
Is there anything left in the financial world that the gov’t is NOT supposedly “backing”?
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Well, if you use “Green” laundry soap and your clothes stay dirty, they will NOT come do your laundry. They will however, encourage you to buy new clothes. In fact, it is only a matter of time before we get some sort of rebate (like the tv rebate thingie going on now). Can’t happen soon enough. I need new socks.
Comment by Maria — 3/30/2009 @ 2:22 pm