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Talk about a sales job, somebody has sold an empty box to the United States taxpayers. Let's all own a factory, or two, maybe more that makes something nobody can or want to buy. Let's just keep paying assembly workers to stand around, drinking coffee, scratching, and nodding off.
In other words, so what if we save the banks, save the big 3, etc, if once saved, nobody can buy or wants to buy their products and services?
Oh, yeah, wheres the money coming from to pay down the US debt to buy those firms? And what happens when inflation really cuts sales in half?
If you don't understand supply vs demand economics, I recommend that you learn why socialistic economies fail. Even with my simple understanding of economics, (not a ph.d) I can comfortably challenge any argument for socialism.
Its worse than that.. the US Government, has given taxpayers a "snow job" by saying that the deals are going to be profitable, sold all of the liberals on the fact that this will lower taxes due to the "dividends" and profits to be made, and now just four months later, the government is GIVING away the companies that they took over at a total loss to the taxpayers. Its all about paying off those that supported the president on the taxpayers dime while screwing "investors", using a class envy as justification.
If a conservative was doing this, liberals would be seeing it for what it is, nothing but a bunch of hypocrites..
Even worse, there some members of the administration who have questioned the constitutionality of the entire process and were threatened. This story is not over.
And the stock deals the Government made with the bank lets the bank make 80% profit off us.
All on our dime. Those warrants will give billions of extra dollars to the banks.
The Treasury is buying the warrants at a discount and then selling them back to the bank at full price. A lose-lose situation for the taxpayers.
snippet:
"If Geithner makes the same deal for all companies in the rescue program, lenders may walk away with 80 percent of the profits taxpayers might have claimed."
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