Schulz punks out again

[ASITStands]

the Chrysler billion dollar bailout

While no bailout is to be desired in any case, we, as taxpayers actually made a few bucks on that one. Pure luck. Probably never to be repeated.

Chrysler paid its loans back ahead of schedule (only because Chrysler was allowed to screw over its other creditors) and we made money on the warrants which were issued. Regardless, Chrysler should have been left to die.

Now, they will be back, along with Ford and GM asking for yet another bailout. $50 billion, last I heard. To support a bunch of overpaid union hacks, yet again.

Do you have a cite for how the Chrysler bailout fared? And, what about other bailouts?

Also, I realize it's off-topic, but where's the authority to bailout any private institution? You can direct me to Ranting and Raving if you wish. I'm just interested in how these things fare.

[Gregg]

Threre is a provision in the federal reserve act that provides the authority to bail out any corporation. It was always assumed that it meant banks, but the language covers pretty much whatever they want to do. The bailout is a good thing, even if it ends up with the government sitting on depreciating assets, the government can afford to hold until the values stabilize, a private company can't which would lead to a panic collapse of the asset values and puck up the market for a long time....

[Truthstalker]

it is a fact that the Ohio River is IN Kentucky, not Ohio

Way up de ribber, whar de Lincum gumboats lay?