Friday, January 1, 2010

Lots Of Money For Those Considered Important

GM and Chrysler received more than $50-billion worth of aid from US taxpayers not current taxpayers really, but money borrowed off the backs of those yet to be born.

Now the Treasury Department has given the auto-financing company GMAC another $3.8 billion, on top of the $12 billion it has already received.

GMAC handles GM and Chrysler loans. GMAC is not strong enough to stand on its own and letting it fail would be devastating for both GM and Chrysler.

As America appears to continue its march straight into Marxism, many see similarities to the former Soviet Union propping up inefficient enterprises that would otherwise have died a natural death.

1 comment:

Anonymous said...

Amazing as always