PowerStrokeNation : Ford Powerstroke Diesel Forum - View Single Post - MT truck of the year
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post #32 of (permalink) Old 12-15-2010, 03:08 PM
Greenshield
Diesel Therapist
 
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Join Date: Oct 2010
Location: Easton, MD
Posts: 153
Re: MT truck of the year

Ford Credit did not take any Government money, they took a loan form the Federal Reserve directly. I despise the Federal Reserve, but facts are facts. This was addressed earlier in the conversation.

Quote:
Originally Posted by Greenshield View Post
Ford is still private. They did take a loan from the Fed, not the U.S. government. The Fed usually loans to banks first and then to the lenders, but Ford Credit, not Ford Motor took the loan from the Fed. I have my problems with the Fed even existing, but facts are facts.
Normally the Federal Reserve (DID I MENTION I DESPISE THEM?) loans money to banks at a low rate, then said banks loan it to companies and consumers at a higher rate. In this instance the Federal Reserve loaned it directly to Ford, Honda, and other credit arms of corporations at the discounted rate for fast, cheap money. In hopes of unfreezing the credit market. I do not agree with this tactic BTW. Surprised at the number of GM trolls on here.

08' Job 2, F-250 CC SB Lariat two tone 3.73 4X4
S&B CAI, Spartan 300 (DD), Recon smoke cab lights
Powerstroke67/ homebuilt 4" DPF/CAT delete w/6"rolled tip and 4"SS exhaust (all home installed),Dual Headrest DVD, Rhino liner.
Amsoil 5w40 EOI (10K)

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