2008 Redux? Automakers Tell Lawmakers to Ensure Liquidity

Funny, it seems like we’ve heard this story before. Large automakers are calling their Congressmen, urging them to make sure that they provide “robust credit facilities” so they can ensure “sufficient liquidity.”

Trade groups representing the biggest brands in the business sent a letter to Congress recommending that the federal lawmakers set up loan and loan guarantee programs for large employers as well as medium-sized manufacturers and small businesses.

The automakers expect sales to drop 90% in March.

It seems like when you approach someone with your hat in your hand, you shouldn’t be demanding anything. But then again, they are the automakers. They’ve played this game before… and won.

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