Auto industry to press Congress for $50B in loans

Discussion in 'Wall St. News' started by poyayan, Sep 7, 2008.

  1. poyayan


  2. Washington realizes the taxpayer should always be the sucker. They are not represented at the negotiating table, and practically beg "kick me" as the widely dispersed group that they are.

    Paulson and Bernanke rely on the taxpayer as the "go to guy" in a sick sort of way. PIMCO's Bill Gross has the least shame, saying the taxpayer should "open his wallet".

    Most importantly, in this financial markets' chess game, it's only thinking 2 or 3 moves ahead to use excessive leverage and then ask for a government bailout when the music stops. Relatively easy in terms of strategy. It's now important for Paulson, Bernanke, Gross, etc., to pretend they aren't aware of this phenomenon.