Quote:
Originally Posted by BigRigMike
From Wiki "The value of USA subprime mortgages was estimated at $1.3 trillion as of March 2007"
So the "requirement" was 500 billion in 2010 but we hit $1.3 Trillion in early 2007. Wow we are some over achievers when it comes to government mandates.
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Exactly, the Government always ends up doing more than what initially intended to do. In this case, we have one stimulus package passed by Bush then another passed by Obama, one auto loan bailout that has now become asking for a 2nd and perhaps will become a third if this one passes.. I don't see why we should continue this madness like Groundhog Day repeating history over and over..
Another thing is, I know I don't know everything and I'm not always right in everything I say. However I do try to be as fair to both sides of an argument as possible and try to look at the positives of both. I may be against the stimulus that just passed but I wasn't for doing nothing at all either. Ofcourse something had to be done if not we would face much more major problems..The same goes with the auto industry. I am against more bailouts but I do want to see the company succeed for the future and I feel Chapter 11 may be the only way. I do not buy the argument that the majority of Americans simply won't buy American at that point in time. And I do feel the bailout is really intended to keep the union alive which is counter productive and will only be met with asking for more bailouts to survive in the future..