Bailout for the Big3 plans.

[moneysense]

The Big3 automakers are going to have to meet some requirements to get the $15B that is expected to be given to them to make more fuel-efficient cars.

Among the criteria that they will have to meet are: they will have to agree to terms that are very similar to the ones set up for the banks will recieve part of the $700B bailout.

They will also have to limit pay packages for their top executives, plus give the goverment part of future gains. On top of that, they will have to guarantee that taxpayers would be paid back before any othe shareholders.

There would be a special investigator appointed to oversee the bank rescue and keep an eye on the Big3 bailout.

Senator Dodd of Conn said that

Its not my job o hire and fire, but what I suggest is, you need to have new teams in place here... if youre going to convince the American public that the financial relief plan is necessary and justified.

Will new executives in the Big3 be the answer to convincing us that this is a needed bailout? Why not cut out some of the programs that they have going on now where employees still recieve up to 95% of their working pay while they are laid off.

It would seem that streamlining some of their ongoing programs would save a lot of money and very possibly lower the amount of money they say they need in this bailout, thus saving us the tax payers and the government a lot of cold hard cash.