I'm pretty sure this is one of Larry Flynt's political statements, not a real attempt to get money. I heard about this yesterday and was pretty sure it's meant to mock the auto companies seeking a bailout.
Flynt enjoys making mocking political statements. I remember back when Congress was impeaching Bill Clinton, Flynt launched a major research project to discover how many members of Congress had had unpublicized sexual affairs and then "outed" them.