This is not a hand out, it is a loan. It just so happens that banks are unwilling to loan the money needed to operate their companies. The federal government happens to be the lender of last resort for GM and Chrysler.
^^^^ This! //content.invisioncic.com/y282845/emoticons/biggrin.gif.d71a5d36fcbab170f2364c9f2e3946cb.gif
If the banks fail, like for real fail, most of the US will be effected in that they wouldn't get a paycheck. FDIC doesn't have enough money to cover all the bank deposits. That was the threat about the financial system.
agreed. risk and reward is essential in a free market.......relatively free market.
The reason the private banks got all that dough no questions asked is because the federal reserve; which in itself is a private bank and independant of our U.S. Government; controls our money & print's the cash. If the government hadn't said yes they would have just printed more money & done it anyway probably, and inflation would have skyrocketed.
False.
might be a good idea. if not, chrysler needs to go. 1 too many chickens in the hen house.
No they do not, specifcally.
doesn't matter much now anyway. they're usual limit on printed money is out the window anyway.
it's a long list. companies like american express are even calling themselves a bank to get cash.
