[quack]

Here’s the kicker though,when they collapse,the “loan” is defaulted on ,money spent,and taxpayers will still be on the hook for it.

[Sir Francis Dashwood]

Here’s the kicker though,when they collapse,the “loan” is defaulted on ,money spent,and taxpayers will still be on the hook for it.

Exactly.

The US Treasury should move in and buy GMAC and use the income stream to pay back the taxpayers. Cerberus has already agreed to take 30 cents on the dollar.

Then, General Motors with about 10 billion could sink or swim.

[netmilsmom]

It’s from the Treasury Department’s Troubled Asset Relief Program or the 700B already spent.

We’re not getting it back anyway.

[org.whodat]

Here’s the kicker though,when they collapse,the “loan” is defaulted on ,money spent,and taxpayers will still be on the hook for it.

Cannot remember the congressman's name, but he said it wasn't your money. LOL

[Boiling Pots]

No, the Taxpayer is protected, because this debt is super-senior, so if they go into bankruptcy, the Taxpayer is first in line!

::eye roll::