For those of you who think I don't know what I'm talking about ------ Here is a morsel from my post over a year ago, April, 2009. This is also for those of you that think I am a right wing conservative that repeats the doctrine of the three stooges --- Rush, Glenn, and Sean.
I just believe that if government stays out of the way, and lets the economy be the Darwinistic force that lets the strong survive and the weak fail, the rising tide will raise all ships. This not only goes for the big banks, but also for GM and Chrysler.
April 1, 2009
What's Goin' On?
AIG, GM,--------WTF? The real culprit is Goldman Sachs (GS). GS punked AIG by getting a very low rate of insurance on the toxic assets that they were pushing. When the assets failed, AIG had to pay 50 Billion in losses. When the taxpayers bailed out AIG, we were actually paying for Goldman Sachs bad investment. Here's the kicker ----GS stock $110, AIG $1 --- WTF? If a dumbass like me can understand, what's wrong with DC?
I Heard It Through The Grapevine
The threats by our executive branch that it will allow GM to fail and go into receivership are idle threats. It is called brinksmanship, bringing a situation to the brink of disaster so that an agenda can be accomplished. If you think that Obama and the Democratic Party would allow GM to fail, thereby abrogatiing the labor contracts of the UAW, you are nuts. By the way, why was the CEO of GM forced to resign, but the head of the UAW is still there? No answer needed, it was rhetorical.
