06 December 2008

I'm no economics professor, but ferchrissakes, folks!

Congress, at the insistence of financial gurus, felt compelled to transfuse billions of taxpayer dollars into the banks to open up credit markets. 
It didn't work quite as advertised.
Shortly afterwards, Congress gave the Big 3 US automakers a multi-billion dollar loan. 
Why didn't Congress send the Big 3 to the banks which now have taxpayer dollars to loan?
More to the point, why didn't Congress suggest to all parties they should figure out a way to...oh, I dunno, provide credit so that people can buy cars?

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