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View Diary: A Bankruptcy Lawyer (Me), Corrects Factcheck.Org On the Auto-Bailout (Updated, re Private Funding.) (157 comments)

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  •  now you can correct the record (4+ / 0-)

    with Glen Kessler at WaPo. He likes to say "some analysts say there was no private funding available."

    Personally, I think if he's going to make a statement like that, he should show the converse, find "some analysts" who said there was private funding available - but he should find them saying it in 2008, not during the 2012 election season.

    •  Actually, that's a separate issue. (3+ / 0-)

      I relied on the general presumption that there was no funding?  (How could there be, if the banks themselves had to be bailed out?)

      But you're right -- he should identify contemporaneous "analysis" and quote them as to funding,

      It's kind of like Ryan's and Mitt's "six studies."

      The GOP: "You can always go to the Emergency Room."

      by Upper West on Thu Oct 25, 2012 at 11:13:32 AM PDT

      [ Parent ]

      •  If they were making loans w/ a government (1+ / 0-)
        Recommended by:
        Lujane

        guarantee, though, then they're not putting assets at risk by making the loans.  In essence, a government-guaranteed loan would be risk-free income to the lender.  

        The banks had assets to lend out, but the concern was over capital ratios; if government guaranteed the loans, lending to the auto industry would be like keeping assets in T-bills.

        That'd be the counterargument, and it strikes me as reasonable, even if it's not right.

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