Sunday, January 04, 2009

Free enterprise government style

Let's peek at what the government just did with the bailout of the automobile companies operating out of Detroit. GM and Chrysler wanted money and Ford said it didn't need any. So, we gave billions to GMAC, the finance arm of GM and they promptly used the money to finance the purchase of GM's cars at zero interest rates which, of course, put them at a competitive advantage vis a vis Ford and Chrysler. This idiocy, by the way, is a farewell present from Bush.

Personal Unsecured Loan