Actually GM and Chrysler bailouts were chickenfeed compared to the banks such as CitiCorp and Goldman and Wall St and AIG? They should have all been sent into bankruptcy where the shareholders lost all their wealth like GM, but instead were and are still being handed US taxpayer obligations by the trainloads without producing anything of tangible value for the USA.
I didn’t support any bailout but the banks should have been knee capped, bankrupted and recapitalized by Govt. and then sold off and proceeds returned to taxpayers instead of going to banksters and their management.
I'm with you on that. I also closed my Citi and B of A accounts and no longer accept checks drawn on those banks. I take corruption seriously and do not deal with crooks. Still, the discussion was cars, so I stuck to that sector of modern liberal corruption.
“Actually GM and Chrysler bailouts were chickenfeed compared to the banks such as CitiCorp and Goldman and Wall St and AIG?”
Last I checked, AIG isn’t a bank, nor is “Wall St”. The Treasury made billions in profit on the investments in GS, MS, JPM, etc. There were big losses on the auto makers and AIG, though nothing compared with what has been flushed down the toilet with the ONGOING, INCREASING bailouts of Fannie/Freddie. “CitiCorp”? Off by a decade or two.
“the banks should have been knee capped, bankrupted and recapitalized by Govt. and then sold off and proceeds returned to taxpayers instead of going to banksters and their management”
That isn’t too far from what happened to AIG and Fannie/Freddie, minus the bankruptcy: massive stock dilution followed by pained attempts to recover the initial outlay.
To say that the government should have been “knee capp[ing]” any company or forcing it into bankruptcy, is not conservative as I understand the term.