Thanks for the good article and explanation of why this new plan faces the same problems as any other. Schmucker is certainly one of the worst. A dagger at the throat of the economy.
The idea that the banks will run out and lend money is a bit odd. What growing business will be able to pay it back in a shrinking economy? Don't you have to laugh when you hear about the problems at the auto dealers? Hell, they aren't selling any cars. Over leveraged in the first place, low volume for 18 months, finally facing financial reality. Many are just broke in a bad business. So this plan is hurried through to save them.
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The idea that the banks will run out and lend money is a bit odd. What growing business will be able to pay it back in a shrinking economy? Don't you have to laugh when you hear about the problems at the auto dealers? Hell, they aren't selling any cars. Over leveraged in the first place, low volume for 18 months, finally facing financial reality. Many are just broke in a bad business. So this plan is hurried through to save them.