General Motors GM Ford F Bailout 12/19/08

General Motors ( GM ) and Ford ( F ) and Chrysler LLC have been bailed out today, 12/19/08, and both stocks are higher on the trading session. Below are some of the details of the auto bailout. Ford does not need the cash but they are still a huge part of this bail out program.

• 13.4 Billion Dollar Short Term Financing from TARP
• Must Reverse Debt by 2/3 through Debt to Equity Swap
• No Car Czar
• No New Dividends while Owing Government
• Government will be able to Block Large Transactions
• 4 Billion will come in Feb.
• New Presidential Administration can change Terms of the Deal

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