Saturday, November 22, 2008

Here's a good reason not to bail out GM ....

... because GM wants to send a billion bucks of it to Brazil.

From the Latin American Herald [with h/t Last Free Voice]:

General Motors plans to invest $1 billion in Brazil to avoid the kind of problems the U.S. automaker is facing in its home market, said the beleaguered car maker.

According to the president of GM Brazil-Mercosur, Jaime Ardila, the funding will come from the package of financial aid that the manufacturer will receive from the U.S. government and will be used to "complete the renovation of the line of products up to 2012."

Yeah, as kavips likes to say, Congress Saves The World, huh?

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