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Well, this is more of a handout than a loan. With the loan to the automakers, at least the companies will end up paying us back with interest. More handouts to people does'nt seem like a good plan to me. It just adds to government debt. And why would we do any favors to foreign automakers when almost all of the money they make leaves the US?
I wonder what the odds are on the banks paying back any of the 700bln they are getting versus the automakers paying back their potential loans? At least the automakers have a business plan and a product to sell, the banks just want money to cover their screwups and to force the government to buy debt that has no chance of being repaid.
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