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Another 30 Billion?!? Didnt see THAT coming!

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Mortgage and Lending with First Time Home Buyers, Pre-approvals, Fixed Rates 172223

No wonder used car salesmen are sleazy, it starts at the top apparently!

As bailouts continue, and we try to teach our children that money doesnt grow on trees while obviously forgetting that lesson ourselves, the automakers were back in front of Congress yesterday.  All I can say is WOW!!! 

After blowing through billions the automakers unveiled their new plan.  The new plan involved very little planning(ironic, huh?) but involved a lot more money.  The CEO of GM was on the news this morning trying to justify the additional amount saying that it would be a "Bargain"(his words!) to give the auto industry an additional $30Bil. compared to the effect of NOT giving it.  With thousands more laid off and THAT negative effect on the economy, AND then of course the millions of dollars in unemployment to be paid, etc. etc.  OH AND there is that little part about if they go under they cant pay back the original BILLIONS they borrowed.  OOPS...nice oversight. 

To me and my humble opinion, sounds like blackmail.  And whats worse, we'll give in.  If the last few weeks are any indication we will continue to throw any amount of money at any problem.  Maybe its the Capitalist in me, but there should be no such thing as "Too Big Too Fail", if you run your company into the ground, another enterprising entrepreneur will step up and make a better company.  That's how it works!  If there is money to be made, and there is in the automobile industry, someone will be out there too make it.  Step aside BIG THREE!  That's Capitalism!

I wish I could give proper credit to this quote, but I cant remember where I heard it.  "A Capitalist Democracy is the worst political system there is...except for all the rest."  Well Said. 

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