US Treasury Department spokeswoman Brookly McLaughlin confirmed that the government had sent the $4 billion in funds to Chrysler yesterday. General Motors Corp received $4 billion in emergency loans on Wednesday. Both Chrysler and GM have said they need the infusion of government cash to meet payouts to suppliers at a time when a plunge in auto sales has drained their cash holdings. Officials have not spelled out why the loan to GM and a separate $6 billion funding for its affiliated finance firm GMAC were completed ahead of the Chrysler transaction.
US Treasury Department spokeswoman Brookly McLaughlin confirmed that the government had sent the $4 billion in funds to Chrysler yesterday.
General Motors Corp received $4 billion in emergency loans on Wednesday. Both Chrysler and GM have said they need the infusion of government cash to meet payouts to suppliers at a time when a plunge in auto sales has drained their cash holdings.
Officials have not spelled out why the loan to GM and a separate $6 billion funding for its affiliated finance firm GMAC were completed ahead of the Chrysler transaction.
