We the people GAVE the banks 700 Billion dollars. Why don't THEY lend it to our auto industry?

[elehhhhna]

Wasn't this exactly the reason we GAVE the banks a massive windfall? So they're loan money?

If I'm not understanding something here, please explain.

Thank you.

[elleng]

1. They can't FIND the money we gave them!

.

[gravity]

2. The banks have means to pay back the money

The auto companies do not in their current state

[L0oniX]

3. We???

[elehhhhna]

6. Yes, we. Sure, it was taxation without representation, but...

regardless, we're on the hook for it.

[MercutioATC]

4. They were stupid to give the banks the money.

They'd be equally stupid by giving (a loan is a gift if it's never repaid) to the auto industry.

The number started at $25B, became $35B, and is now $14B...and absolutely NOBODY has explained what any of those amounts is supposed to accomplish.

[JVS]

8. Ding ding ding. We have a winner.

[muntrv]

5. Because the people who work in banks shower before going to work.

The people who work in the auto industry shower after work. The republickers hate working class people.

[JVS]

7. If the banks continue making bad loans, their own bailout is sure to fail.

The auto companies don't qualify as a good risk (for the amounts of money they are asking for at least) at this point.

[Vinca]

9. Sorry - they've got end-of-year bonuses to dole out.

Maybe after they get the last 350 billion.

[leftofthedial]

10. those funds are already in, umm, use.

I'm afraid that would be impossible.

We have the holiday parties in Aruba and the junkets to Monte Carlo to see how *real* capitalism works. Then we have the annual cash awards. (We don't give bonuses anymore, you see!)

[Freddie Stubbs]

11. The banks needed money because they made awful business decisions

Is it possible that loaning money to the automakers is a poor business decision?

[Skink]

12. This is the basis of Obama's use it or lose it.

[Karenina]

13. It's called financial rape.

Congress bent over and they got yours. YOU can fuck off. So ist das. Leider.

[gizmo1979]

14. Don't we own a couple?

I thought about this the other day.Either you bailout auto or we stop the checks from coming in.