Detroit's Big Three (or 2.8, or whatever) are counting on the loans to retool factories for more fuel-efficient vehicles, protect jobs and help fund the escalated development costs of fuel-efficient drivetrains. Having seen more government bail-outs than we'd like to over the past couple weeks, we're not ready to call this one a full-blown bail-out like those given to Fanny Mae/Freddie Mac, and AIG. These are low-interest loans that will likely come with specific stipulations on how the money can be spent. It's up to General Motors, FoMoCo and Chrysler LLC to spend them wisely.
[Source: Automotive News - Sub. Req.]