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"Any bailout of the auto industry is really a bailout for the health benefits of the UAW. That's all it is." [48] Opponents of a bailout believe that the automakers' problems could be more efficiently resolved by a bankruptcy court with legal power to dissolve existing contracts, shedding costs, and debts that it can no longer afford.
Based on an assessment that automobile manufacturing was a critical sector of the economy providing 3 to 4 million jobs for Americans, that liquidation was imminent for two of the three major U.S. automakers, and that the break ups would devastate the U.S. economy, the U.S. government became involved in the day-to-day management decisions of ...
The U.S. 8th Circuit Court of Appeals put a final end to former President Joe Biden's student loan forgiveness plan on Tuesday. Missouri Attorney General Andrew Bailey originally sued the Biden ...
Cooper, 53, has been enrolled in the Public Service Loan Forgiveness Program since it started in 2007, which forgives student debt for government and nonprofit workers after 10 years of qualifying ...
President Joe Biden is determined to provide debt forgiveness to federal student loan borrowers, despite more than a year of having his plans challenged and shot down in the courts. The...
The Emergency Economic Stabilization Act of 2008, also known as the "bank bailout of 2008" or the "Wall Street bailout", was a United States federal law enacted during the Great Recession, which created federal programs to "bail out" failing financial institutions and banks.
A 2018 report from the Government Accountability Office found that 99% of applicants were denied, often because they weren’t in the right loan repayment plan or because their payments had ...
The U.S. Senate voted and strongly opposed any source of government assistance through a bailout bridge loan (originally worth $14 billion in emergency aid) which was aimed toward helping the struggling Big Three automakers financially, despite strong support from President George W. Bush and President-elect Barack Obama, along with some mild ...