$700 Billion is a lot of macaroni! That's how much our all-knowing government just HAD to bequeth to the insurance and mortgage entities that had gotten themselves into trouble by taking just a little too much advantage of government-created boom cycles. It was an emergency, if you remember. The whole world would have collapsed if we hadn't rushed through that legislation. And ALREADY they are saying much of it has been squandered and they don't know where!
Excuse me?
Then along comes the auto industry. "And just WHO do you think YOU are, coming in here and asking for money?" said the snobby congressional leaders. "We are not some kind of government ATM machine!" And the funniest statement of all, "We need to see your business plan!" (Like anybody in Congress would know how to evaluate a business plan)!
"We are just asking for a loan," said the automakers. "Not a bailout like you gave your mistress the finance industry. Just a loan."
"We'll have to think about it," said the all-knowing government bureaucrats. "We need to know how you plan to pay it back. We have a responsibility to be responsible with money around here, you know, because, well, er, um, we're responsible kind of folks."
Some questions are just too obvious to ask, like, "Why was the $700 billion for the insurance and mortgage bailout not a loan? And why were they not asked to provide a business plan?"
Things that make you go, "Hmmmm."
Smells like a cover-up to me. And when you dig into things a little bit, you find out that's exactly what it was! The Federal Reserve Board, posing as the great savior in the bailout situation, was actually one of the biggest culprits in the entire mess! Can you say CYA?
The auto industry really is full of a bunch of amatuers when it comes to getting government cheese. They should study how the rest of the world does it. You've got to get some sweatheart deals on the front end, get involved in government contracts (so when the FED prints its free money to "lower interest rates" they could be the recipient of the free money before it has its inflationary affect on prices), and just overall make sure the government is in bed with you from the beginning. THEN when things go sour, as they always do when the government meddles in the economy, the government will be required to perform a "bail out" to hide their own complicity. What the heck have the automotive industry lobbiests been doing in Washington all this time, anyway? They must not throw parties near as well as the folks over at AIG!
Automakers, are you listening?
Now for the rest of you out there who need a Bail Out package, I'm still working on a plan for you!
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