Quote:
Originally Posted by Hylton
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.
|
I'll be interested to see if what Dodd says actually happens... I'm ready for them to take every penny the CEOs and CFOs of these banks have in their accounts as of right now... freeze their assets and make them start paying some of the money they've stolen back... basically, after the banks got the money, they did everything in their power to make it impossible to borrow money... they're hording the money and nobdoy has taken a single cut in pay, so far as I can tell... which is what I was broadcasting would happen from the very beginning... but nobody in Congress listened to me, you or any of the other voters who begged and protested for these big banks to just get swallowed up by other big banks.
the bottom line is that I think GM and Ford are going to get a short term loan... and with the Volt, Cruze and Camaro on deck, GM is likely to achieve the goals that will be set forth by the government... Chrysler, on the other hand, is a privately owner company now, so they're very likely to get nothing, if not ALOT less than what they're asking for... Cerberus is going to have to make some great strides with the UAW to be able to meet any goals that the Gov will set up for them... and their outlook will, eventually, be the bleakest of the three.