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Originally Posted by SilverTurtle
well, at least Dodd and others said it... they're punishing the Big 3 because of the way the banks have been running the money out and not changing anything that they are doing... I think they'll still give them some money and make them come back on March 31st... but it sure does suck to know that we're willing to send the bankers on vacation to the Bahamas but wont save the auto makers that are a prime reason that this country is as strong as it is.
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Ya, I still can't figure that out. Give the banks 70 times as much money with no questions asked. Don't oversee what they do with the money but when it comes the the D3, hold their feet to the fire.
The bank thing is killer - what is happening now is that they are spending the money not on consumer debt but on investments. They also raised the FICA score to 700+ which is just another way of not having to lend the money out. Finally, they are getting a minimum of 5 points on any money they do lend out that they have borrowed from the Federal Reserve.