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  • Why US Taxpayers Will Bail Out Foreign Auto Suppliers

    Posted March 30, 2009 - 10:36 am

    When news broke last week that the U.S. would provide $5 billion in financing to cash-strapped automotive suppliers, the overall message was clear: The government is trying to prevent the collapse of the domestic auto industry and the Big Three automakers (GM, Ford and Chrysler) by ensuring that their top (or Tier 1) suppliers will receive the billions in payments owed to them by the Big Three. But the American public should remember that in this globalized economy, some of these TARP funds will eventually wind up at auto-parts suppliers in China, Europe, Indonesia, Thailand and elsewhere.
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