HolyCoast: The Problem With The Auto Bailout Defined
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Thursday, December 11, 2008

The Problem With The Auto Bailout Defined

From a floor speech by Sen. Tom Coburn (R-OK):
In the year 2007, GM sold 9.3 million automobiles and lost $38 Billion dollars. In 2007 Toyota sold 9.3 million automobiles and made a profit of $17 Billion dollars.

No government bailout is gonna fix that.

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