Detroit wants its loan money, fastDavid Welch
Detroit may have approval for its funds, but as David Kiley points out, it could be a while before the struggling car companies can actually get any cash in hand. So Detroit has fired up its lobby efforts to get the money soon. One Big Three Washington staffer tells me that the Big Three are pushing the administration to make the funds available as fast as possible. Congress mandated that the credit line should be ready in 60 days. But as the lobbyist said, “that doesn’t mean it will get done in 60 days.”
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