The Govt is giving Chrysler and GMAC bail out money so they can give loans to...

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Andrea

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...people with low credit scores? and low income. Isn't this why we are in the mess we are in right now? The Govt allowed Fannie and Freddie to do the same thing. Will the car companies on purposely loan to anyone and create(bad paper) like Fannie and Freddie, in order to get the rest of the 17 billion? Will the Govt have to intervene again, take more money from tax paying citizens in order to bail out the car companies again after all these people default on their car loans? Will the Govt use our money to let these people keep the cars they can't afford( just like they used 300 billion to keep people in houses they can't afford just last year) How can we get rid of these Politicians and start fresh? If you ask me, they are all worthless.
I heard Juan Williams talking about this
Michelle I like Huckabee also, but he does buy into this whole global warming thing a bit to much.
 
GMAC is part of General Motors....
the money to the Auto Makers is a loan...something like 13 billion....
Bank of America got Bailout money ...WITH ABSOLUTELY NO STRINGS ATTACHED....15 Billion dollars worth....to do with what they will....and ANSWER TO NOBODY.
This applies to the 350 Billion of TARP funds already given away.....
They can do whatever they want with the money...
they can hoard it...
they can pay dividends with it....
They can buy up other companies.
they can spend it on booze and hookers.
Hartford Insurance wants to buy some banks so they can QUALIFY for TARP funds.
As far as them loosening up credit...THEY DON'T HAVE TO...and nobody can make them.
Loosening up credit is a "pretty please it would be nice if you did".
AND somebody is....but it ain't the banks.
 
That's not technically true . . . they are not considering any loans with a credit score below 660.
 
I'm not an expert, but it's not the impression I have. The banks have stopped lending to everyone except people with perfect credit scores. That brings the economy to a halt, since it doesn't take much to screw up your credit score. Now that they're recapitalized, they can resume normal lending, which should help the car companies recover.
 
That's not technically true . . . they are not considering any loans with a credit score below 660.
 
They are lowering there standards but the new standards will not allow anyone to get a loan. A 621 credit score is not terrible. Yes they are taking some additional risks but I would imagine a 621 would require a down payment and those people arent going to be able to getting a 30,000 vehicle.
 
The last thing I read said that no one with a credit score lower than 650 would qualify for a loan. Since the new FICO goes into effect in 2009 there may be a drop in scores.....than who will be able to buy cars on credit? Wouldn't surprise me if they lowered the standard.
 
This is what continues to happen as long as Americans are more interested in pointing the finger at a party and bashing instead of getting involved, and most importantly informed. Informed does not include reading Huffington Post either!
 
America is dying.

The Bush family has been making fortunes since WWII out of tragedy.
Bush 41 was in Dallas the day Kennedy was shot. Look it up
 
America is dying.

The Bush family has been making fortunes since WWII out of tragedy.
Bush 41 was in Dallas the day Kennedy was shot. Look it up
 
I totally agree. unfortunately you need to vote them out and sadly politicians need to have bu cu bucks to run the normal person cannot even get in those circles. I am voting for Hackable if he runs next year . he has a show on FOX news on saturday night at 8pm. he is transparent and smart. and is not afraid to listen to all opinions. I think he is the freshest politician that has come around in a long time, I believe in him. check him out, you would be pleasantly surprised
 
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