Art Anderson Posted November 24, 2008 Share Posted November 24, 2008 While not directly involving the Detroit Big Three, it does appear that the Federal Government is setting the tune by which any financial aid to GM, Ford and Chrysler might work: The Government and Federal Reserve rescue of Citigroup involves, in addition to billions in cash (to shore up the bank's reserves) and billions more in guarrantees. But, the unique thing, or so it seems to me, is that in exchange, the government will directly be overseeing the operations of the bank, regulating the loan risks Citi will be allowed to take on, and have pretty much the final say over executive compensation and bonuses, how much, and when and why. Could we see government overseers in the executive suites in Detroit? Art Quote Link to comment Share on other sites More sharing options...
Harry P. Posted November 24, 2008 Author Share Posted November 24, 2008 While not directly involving the Detroit Big Three, it does appear that the Federal Government is setting the tune by which any financial aid to GM, Ford and Chrysler might work: The Government and Federal Reserve rescue of Citigroup involves, in addition to billions in cash (to shore up the bank's reserves) and billions more in guarrantees. But, the unique thing, or so it seems to me, is that in exchange, the government will directly be overseeing the operations of the bank, regulating the loan risks Citi will be allowed to take on, and have pretty much the final say over executive compensation and bonuses, how much, and when and why. Could we see government overseers in the executive suites in Detroit? Art If Detroit is going to be running via taxpayer money... we better see government oversight! Quote Link to comment Share on other sites More sharing options...
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