Well, yea, there’s that too.
The bailout was for the banks, not GM.
Wait, they will be back for more.
Bailout is the name of the game. Shift the losses onto the American Public.
It’s a sweet gig if you can get away with it....oh and still look at yourself in the mirror the next day.
You hit the nail on the head...shift the losses to the American Public and even if the loan is collateralized, make up some excuse why they still shouldn’t benefit from the sale.
If we are really going into business with the federal govt to make sure that the largest banks in the world have a softer landing, that money should be earmarked for tax relief only...we should be the new landlords...not some entitlement program.