Toyota Is The New GM: Japanese Automaker Asks Government For LoansS

Japanese automaker Toyota claims it's seeking a $2 billion state bailout to help its car financing unit. Maybe if they'd built the cars Americans wanted to buy, they wouldn't be in this mess. Wait, what?

The super-awesome-number-one-best automaker from the land of the rising sun's now asking the Japanese government for a bailout for its car financing unit. Local media reports say it had applied for a 200bn-yen ($2bn; £1.45bn) loan. However, Toyota said no details had been decided.

While at not as huge as that asked for by Toyota's US brethren, it does make us ask the question — we wonder what Senator Bob Corker (R-Tennissan) and Senator Richard Shelby (R-Alabayota) have to say about this news? Perhaps that Toyota should build the cars Americans wanted to buy? No. How about that Government should stay out of helping their home-grown businesses? Nah, probably won't say that either. Hmm. Wethinks perhaps they'll say not a damn word, because if they do, they'll probably have to open it wide enough to fit their whole foot in. [via BBC]

Photo Credit: Ralph Orlowski / Getty Images News