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GMAC: Three Key Questions

Little Guy:

Whether you realize it or not, all the politicans are doing is pretending to help Main Street but the only ones who will benefit are those connected to the political machine.

It is one giant bait and switch they are using to pay off their pals at the expense of the nation. The politicans just want votes and power.

To understand AIG and the banks, one has to understand the complexity of the CDS market. The impact of AIG failing would have been like a meteor crashing into the Earth. Blame Hank Paulson. He was the biggest proponent for letting the banks lever up when he ran Goldman and then looked the other way as Treasury Secretary.

The impact of the Autos going bankrupt would be painful in the short run but be healthy in the long run without the same radiation sickness as AIG.

What irks me is that the financials are still mismarking their assets. We are now in an era where nobody really cares how much paper losses the banks have. They should just open the kimono and show the ugliness they keep on trying to cover up with TARP.

Let's get this farce over with. This is like a patient with an infected wound. Instead of letting the infection spread by applying band aids we should just cut off the limb and move on.


On Jan 01 05:01 PM vloscomp wrote:

> It's very interesting to see the responses against the bail out;
> I guess every one here are millionaires or billionares except me,
> because the last time i look into my bank account i was not one.
>
> The issue is simple: help the little guy, one who has no money or
> qualifiy for a loan. I mean this is tax money right? and tax money
> is suppose to help the people? Who are the people? Apparently none
> of them are on this forum.
> Compare with the money the US Treasury had spend on AIG to this pitttance
> sum, then you can get the idea that "trickle down economy" is alive
> and well. The Bush administration had brought us to this point with
> their "hands off" and "trickle down" policies, and we are still continue
> make the same due dilligence for helping out the little guy.
>
> Sad day for America.
> From the little guy.