Friday, April 3, 2009
Toyota Borrows From Japan-Owned Bank to Finance U.S. Car Sales
“Toyota needed the loan as it’s not making money in the U.S.,” said Koichi Ogawa, chief portfolio manager at Daiwa SB Investments Ltd. in Tokyo, which manages $28 billion. “This will make it easier for other carmakers to ask for government aid.”
The Japanese government is lending money to Toyota, which is losing money (no one in Japan is asking, is it "viable?"), so that the automaker can continue selling cars in the United States. Smart move: Toyota will grab market share from GM and Chyrsler as the U.S. Government forces them into bankruptcy.
All from an Administration that is purportedly for the working class and saving American jobs. Unreal!!
Our belief system is killing us.
Read article here.