Quote:
Originally Posted by tony404
They said they would take a dollar a year salary til it is paid back. Its a loan not a bail out and they go under we will be going under with them.This country goes into a depression we are fucked..
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That's a big assumption to make...that if they go bankrupt the entire economy goes down with them. That's not necessarily true.
Ohio and Michigan are fucked that's for sure.
The main thing I want to know, that they weren't able to answer in the hearings, is how is this $25B going to help them in the short and long term.
If it's only going to buy them another year and just delay the inevitable then it's a total waste of taxpayer money.
If they can show us a plan where the $25B will help them restructure and put them back on the road to profitability so they can repay the money, then it might be a good deal.
Either way, my guess is they'll get it, if not now then after Obama is sworn in. Michigan and Ohio are too important electoral college-wise to let that many people there lose their jobs. (Yet another reason I hate the electoral college)
BTW...I never saw anything about $1 per year in salary until it was paid back. If you have a link I'd like to see that.