The auto makers bailout is the worst thing that could happened. It keeps people working for a while, but think about it. They build cars but so many people are out of work that the cars built aren't sold. If the cars aren't sold the auto makers have to lay people off. Sooner or later the whole thing falls apart, bailout of not. Why hasn't this even been mentioned by our brilliant represenatives in Washington?

Originally posted by criswyatt
The auto makers bailout is the worst thing that could happened.

No, actually the worse thing that could have happened was for the US to pump in excess of 700 Billion into the financial sector just before an election and then STILL have the banks not lend any money out and have no real oversight or control on how that 700 BILLION is used. Oh wait, that DID happen.

Just wait till the Credit Default Swaps/ Derivatives and the Retail Real Estate market crisis's hit, they are next up on Deck. You will wish you got off as cheap as the Auto LOANS will be. Mark my words, the other shoe has yet to drop.......

Nope... existing mortgages / existing debt... banks can pick it up after that.

The Fed is just technically not the government.

[edit on 27-12-2008 by infolurker]