Tuesday, November 25, 2008
So no help to the automakers (which I was actually kind of for), but we bail out Citibank? The same Citibank that had money a week or so ago to try and buy other banks, but now is mysteriously broke and needs government help? What happened to all the tough talk put on the Big Three automakers? Didn't we already bail our Citi with the original bailout plan?
Look, I buy the premise that we can't just let these huge banks fall apart. But, like with the Big Three Automakers, we shouldn't just be throwing out cash awarding the irresponsible management of these banks.
Plus, it sounds like this could result in higher interest rates for consumers. Where are the consumer protections in this?
Word is coming in that Obama is set to announce a 500 billion economic plan. More ranting afterwards, but I'm still wondering why they don't just give money directly to the consumers to get the economy back going. It would definitely be cheaper....