Skip to Content

Make smart financial decisions with DailyFinance

Filed under: Government/Legal

Canada to the rescue! (after U.S.)

With all signs pointing to White House action on an automaker bailout despite the the bill not making it out of the Senate last Thursday, Canada has its taxpayers' wallets on standby as well. Our neighbors to the north account for a 20% share of the auto industry, and both the federal and Ontario governments are ready to add a commensurate amount of money to the bailout pot if U.S. government action does take place. So, assuming President Bush instructs Henry Paulson, the recently-crowned King of All Our Money, to give Detroit $14B out of TARP to tide them over and keep the RenCen escalators running until this all officially becomes Obama's problem next month, look for an additional $2.8B or so to float across the Detroit River. Thanks for the tip, BrandleSmith!

[Source: Reuters]

Reader Comments (Page 1 of 3)

Featured Galleries

Ferrari at 2009 Goodwood Festival of Speed
Bridgestone 3G RFT
Review: 2009 Smart ForTwo
Forza 3 Japanese Screen Shots
2010 Lamborghini LP550-2
First Drive: 2010 Subaru Legacy 2.5GT
Transformers 2: Revenge of the Fallen
2010 Shelby GT/SR
2010 Shelby GT500 Super Snake
Review: 2010 Ford Fiesta (Euro-Spec)
BMW 7 Series M Sport
Peugeot Metromorph Concept
AOL Autos

Find Your Next Car


Autoblog Video

Autoblog Green

BloggingStocks

Download Squad

Engadget

Joystiq

Autoblog Spanish

Switched.com

FanHouse

Asylum