The following blog post is satire, it is not intended as a real solution to the Detoit car maker crisis, although it is entirely possible that this is something that the Big 3 are considering.
I have been reading and watching and listening, and then reading some more about the Detoit car maker crisis that is unfolding, when finally it hit me.
I don't know how I missed this before. It was smack dab in front of my nose the whole time.
What the Big 3 need to do is turn themselves into a bank; just like American Express did a couple of weeks ago.
Just like I suggested that I would do; turn my brokerage into the Bank of Mark MacKenzie: http://activerain.com/blogsview/784516/The-Bank-of-Mark-MacKenzie
The Big 3 want TARP money, who doesn't?
The problem is that Paulson doesn't want to give it to them because they are not a bank or financial institution. The TARP was designed for buying TROUBLED ASSETS, although as of yet, not one dime has been allocated to buying troubled assets; nor does it appear one dime ever will. But I guess these are all minor details that I shouldn't concern myself with because apparently nobody else in Washington is either.
But here is what does worry me, if the Big 3 along with the United Auto Workers, can't figure out how to exploit TARP, and who can't, then there is indeed a problem with the leadership with these companies - and that is the problem I have with bailing them out.
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