As to the auto industry bailout, would you rather have had a major American industry simply collapse?! Don’t know about the others, but Chrysler paid it all back, with interest, years ahead of schedule.
That profit worked out to be about 0.6% rate of return on a loan to failing businesses on the verge of bankruptcy. Do you know anybody on the verge of bankruptcy who’s ever received a loan with rates like that?
Taxpayers would have been better off holding onto the company stock and receiving a portion of the profits today.
Isn’t the point of our government to break up industries to big to fail so things like this don’t happen? Congratulations you solved a problem that your institution is supposedly designed to prevent.
The average American were the main ppl who lost their houses and jobs and got jackshit back from those bailouts. (Besides a measly 20 billion back from the bank bail out. Our government budget is in the trillions)
No one is saying forgive 1.7 trillions tomorrow but it is MORE than possible to forgive that much debt over time and recoup it. Especially since as soon as that debt is gone ppl will buy shit like houses, take out loans for businesses, and have kids which all add economic value and tax revenue.
As to the auto industry bailout, would you rather have had a major American industry simply collapse?!
There’s allegedly 94 American automobile manufacturers, per Wikipedia. If there’s a disruption that would collapse all of them, that would be extremely serious - something which should be handled by making sure the industry is not at the whims of the economy.
The simplest quick-fix is having the company give partial ownership to the government in exchange for a bailout, and the alternatives involve arguing about what color to use on the bike shed.
So how about that COVID business loan money… Oh we ain’t getting that back.
How about the auto bailout money… Not seeing that back either
How about the bank bailouts from 16 years ago. Gotcha, also not getting that back.
You, random student, we will get that 40k back from you if it takes 50 years.
As to the auto industry bailout, would you rather have had a major American industry simply collapse?! Don’t know about the others, but Chrysler paid it all back, with interest, years ahead of schedule.
The Treasury made a profit on the bank bailouts.
https://en.wikipedia.org/wiki/Emergency_Economic_Stabilization_Act_of_2008
And all of that put together is chicken change against the $1.7 trillion owed in student loan debt.
That profit worked out to be about 0.6% rate of return on a loan to failing businesses on the verge of bankruptcy. Do you know anybody on the verge of bankruptcy who’s ever received a loan with rates like that?
Taxpayers would have been better off holding onto the company stock and receiving a portion of the profits today.
We were robbed.
What does it matter to the auto industry to be saved if no one is buying their cars?
The population can only bear the burden of these bailouts for so long before collapsing. Then nobody will survive.
The people in debt are the plankton of the ocean. They seem insignificant until they are gone. Then the whole ecosystem collapsed.
Isn’t the point of our government to break up industries to big to fail so things like this don’t happen? Congratulations you solved a problem that your institution is supposedly designed to prevent.
The average American were the main ppl who lost their houses and jobs and got jackshit back from those bailouts. (Besides a measly 20 billion back from the bank bail out. Our government budget is in the trillions)
No one is saying forgive 1.7 trillions tomorrow but it is MORE than possible to forgive that much debt over time and recoup it. Especially since as soon as that debt is gone ppl will buy shit like houses, take out loans for businesses, and have kids which all add economic value and tax revenue.
There’s allegedly 94 American automobile manufacturers, per Wikipedia. If there’s a disruption that would collapse all of them, that would be extremely serious - something which should be handled by making sure the industry is not at the whims of the economy.
The simplest quick-fix is having the company give partial ownership to the government in exchange for a bailout, and the alternatives involve arguing about what color to use on the bike shed.