Chrysler Financial reportedly turned down an additional $750 million loan from the government. According to CNN, the company has already been loaned $1.5 billion from the American government via The Troubled Asset Relief Program (TARP).The reason the company turned down the money is under dispute. Some insiders are saying that the company turned down the funds because they didn't want to comply with new loan guidelines that set limits on the amount of compensation that company executives could receive.
However, CNN states that a Chrysler Financial representative has said that the company's short-term financial needs can be covered by private funding. Therefore, they do not need government assistance at this time.
Maybe implementing more stringent guidelines before loaning out taxpayers' money, will help to pump the breaks of these corporations that are crying broke and filling their coffers with American citizens' money.
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