Harley at centre of $2.3 billion bailout

Legendary US motorcycle manufacturer named in $3.3 trillion loan scheme

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Submitted by Visordown News on Tue, 07/12/2010 - 16:12

TROUBLED AMERICAN motorcycle manufacturer Harley-Davidson borrowed $2.3 billion from a federal bank to ease the company's ongoing financial troubles, it has been revealed.

Finance experts Forbes have unearthed the news of the gargantuan loan after the iconic US manufacturer struggled to make essential payments to suppliers and staff.

Recently revealed documents disclosed details of more than $3.3 trillion in loans to financial institutions, companies and foreign central banks including: Caterpillar Inc. ($733 million) and fast food giants McDonald's ($203 million).

“The American people are finally learning the incredible and jaw-dropping details of the Fed’s multi-trillion dollar bailout of Wall Street and corporate America,” said Sen. Bernie Sanders, I-Vermont, who pushed for the disclosures. “Perhaps most surprising is the huge sum that went to bail out foreign private banks and corporations.”

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