It really should come as no surprise, but the amount that was touted as was all that was needed to bail out the Big Three is now stated to be larger than 25 million dollars.
Under a worst-case scenario, assuming that the nation's recession persists into 2010, General Motors is now predicting it would need up to $18 billion in government funding and Ford says it would need up to $13 billion. Ford says it needs "up to $9 billion" but still says it hopes not to need a federal bridge loan. In congressional hearings last month, Chrysler estimated it would need between $7 billion and $8 billion.
GM announced today that it is in very bad shape. It was stated GM will collapse without a $4 billion cash infusion by the end of this month.
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