“The American people will never knowingly adopt Socialism. But under the name of ‘liberalism’ they will adopt every fragment of the Socialist program, until one day America will be a Socialist nation, without knowing how it happened.”

Socialist Party presidential candidate Norman Thomas


Wednesday, October 28, 2009

GMAC returns to the welfare well, one more time

It was utter, economic ignorance to have given any, ANY private company, money stolen from taxpayers to prop up their failures. It is colossally stupid, bordering on criminally stupid, to even be considering repeating it not once but, twice.....

GMAC, the financial lifeline for General Motors Co., Chrysler Group LLC and their dealer networks, is asking the U.S. Treasury for more federal aid beyond the $12.5 billion it’s already received, because it remains billions of dollars short of a capital reserve requirement all bank holding companies must meet.

In case you were wondering how feckless politicians decide how to handle failing companies, our friends over at SouthPark have it figured out(courtesy of Moonbattery......

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