America's economy is toast. Barney Frank, the head of the House Financial Services Cmte, said this today. "We are considering loaning the automakers the 25 billion but requiring them to give us an updated business plan by March. If they do not have it ready by then they will have to pay the money back."
WHAT???? They are begging for money because they are broke. What do you think they are going to do with the 25 billion? Put it into an interest bearing checking account at SunTrust? Are you a complete idiot, elected official? They are burning through cash at an amazing rate.
The man most directly involved in keeping America's financial policies on course wants to give 25 billion to three failing companies. But, he wants them to pay it back if they cannot play by the rules. King Obama better fix this soon with his magical powers....
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5 comments:
yes, it does make sense...but... don't the officials we elect represent the best and brightest we have to offer? I feel like we are in good hands... NOT!!!
Uhhh, the best and the brightest....I rather think the best BS'ers, and the most willing to do whatever it takes to get elected. Knowing anything about politics, or the area one will eventually implement policies, has never been a pre-requisite to being elected....as seen by this dill-weed looking to throw 25 million USD at 3 companies which have on average each lost about 30 million dollars per year as of late. Oh yeah, all they need is a little 3 way slice of 25 mil, and they'll be right back on their feet....or bums....which is it????
PS - Need we mention that Honda and Toyota (companies playing in the same arena so to speak) made profits over 250 million combined in this same time frame????
Guess it is time to sell my "F" stock?!?
opps, replace all instances above of million with billion...so now my point is 10 orders of magnitude stronger! :)
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