Treasury Opens Door to Aid for Broad Array of Firms, Industries

There is no end to this madness. "Where does this process stop" , indeed. Enjoy the first half of 2009 because inflation then hyper-inflation will be arriving late 2009 and especially 2010. Stock up on food and necessities during the first six months of this year before prices rise. I wish I had an underground 1000 gallon gas tank on my property, $1.30 gas won't be around for long-Lou

Treasury Opens Door to Aid for Broad Array of Firms, Industries

By Rebecca Christie
Jan. 1 (Bloomberg) -- The U.S. Treasury threw the door open to taxpayer financing for a widening array of companies and industries by drafting broad guidelines on aid to the auto industry.

The Treasury’s guidelines, published yesterday, would let officials provide funds to any company they deem important to making or financing cars. That leaves room for the government to provide money from the Troubled Asset Relief Program beyond loans already committed to General Motors Corp., GMAC LLC and Chrysler LLC.

“There are going to be other industries that are going to have just as good a case,” as the auto companies, former St. Louis Federal Reserve Bank President William Poole said in an interview on Bloomberg Television. “We don’t know what those other industries are going to be. Where does this process stop?”

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http://www.bloomberg.com/apps/news?pid=20601068&sid=aZm0zupPvbB8&refer=home