“We are a country of law”...... “There are contracts. The government cannot just abrogate contracts."

Lawrence Summers
Obama Chief Economic Advisor on AIG bonuses
March 15, 2009




The UAW announced Tuesday that it reached the tentative agreement with General Motors Corp., Chrysler LLC and Ford Motor Co. over contract concessions, as GM and Chrysler sent plans to the Treasury Department asking for a total of $39 billion in government financing to help them survive.
Concessions with the union are a condition of the $17.4 billion in government loans that the automakers have received so far.


AP
February 18th, 2009