You know what really takes the cake in all of this?
The whole reason to give a bailout is to prevent a company going under, it's assets being sold for pennies on the dollar and investors in it's products and it's stock NOT taking a bath on the securities. The point is preventing the nullification of the contracts through bankruptcy and trying to save the company.
Democrats bailed them out, wrote the legislation deliberately and then turned around and have more or less executed this company. It's not going to stay afloat. So basically they poured a whole bunch of tax payer money into the thing, made a big 3 ring circus out of it and then killed the patient on the table.
I gotta wonder if that was deliberate for some political purpose or just sheer incompetence.
no subject
The whole reason to give a bailout is to prevent a company going under, it's assets being sold for pennies on the dollar and investors in it's products and it's stock NOT taking a bath on the securities. The point is preventing the nullification of the contracts through bankruptcy and trying to save the company.
Democrats bailed them out, wrote the legislation deliberately and then turned around and have more or less executed this company. It's not going to stay afloat. So basically they poured a whole bunch of tax payer money into the thing, made a big 3 ring circus out of it and then killed the patient on the table.
I gotta wonder if that was deliberate for some political purpose or just sheer incompetence.