Another Perspective on the Automaker Handout

More People Having Their Cars Repossessed

This story is about the real world, where people who got loans from a bank when it should have been obvious to the bank that the person probably wouldn’t be able to make the payments.

Yet, at a time at a time when people are losing their cars, mostly due to what amounts to fraud by the banks, the Big Three car companies want The Public $25 BILLION in “loans” so they can continue to manufacture cars, even though car sales are down drastically, and what cars were being sold are being repossessed in record numbers, only to enter the used car market. This “loan” is, of course, in addition to the OTHER $25 BILLION handout the government is giving them to develop more fuel efficient cars (which won’t hit the market for two years, at least).

There is something drastically wrong with this picture, but apparently the legislators, who live in the rarified atmosphere of the Washington Beltway, and most of whom have never held a “real job” are blinded either by the privileged lives they have led, or by the sound of lobbiest’s wallets opening wide.

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