12-21-2008, 09:58 PM
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lurker
Industry Role:
Join Date: Aug 2002
Location: atlanta
Posts: 57,021
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Quote:
Originally Posted by WarChild
You guys do realize that "bail out" money is not just money straight down the toilet, right?
Much of it is loans and purchasing of existing debt. When you buy a mortage, you don't write down the entire value of the house. The houses may be worth less, but they still have a value.
The auto industry has to pay back that money. The last time a loan was made (Chrysler) it was actually paid back ahead of time.
So you're not talking about money staight down the toilet like many of you seem to think.
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good point war child
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