Well, well, well. Guess that Volvo and Saab chose the right country to be based in:

Sweden’s troubled carmakers, Volvo and Saab, have been given a 28bn kronor (£2.3bn, $3.5bn) government bail-out to help them cope with falling demand.

This comes after the US House of Representatives approved a $14bn (£9.4bn) rescue for US car firms.

Volvo and Saab had been asking for Swedish state support because of the financial woes of their US owners.

The plan consists of a maximum of 20bn kronor in credit guarantees, and up to 5bn kronor in rescue loans.

As well as the credit guarantees and rescue loans, the government said it would also earmark 3bn kronor in research and development funds for the car industry.

Seems that the companies employ 140,000 people and Sweden isn’t willing to lose all those jobs. Those Swedes, unlike Republicans they don’t understand that only the jobs of financial firm executives are worth saving.