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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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  •  But when the small town prints the money (0+ / 0-)

    anyway, ie the US govt., why have a middleman

    These capitalists generally act harmoniously and in concert to fleece the people, and now that they have got into a quarrel with themselves, we are called upon to appropriate the people's money to settle the quarrel. Abraham Lincoln

    by Nailbanger on Thu Oct 25, 2012 at 03:09:40 PM PDT

    [ Parent ]

    •  Well, a guarantee doesn't mean money will (1+ / 0-)
      Recommended by:

      be printed.  You can guarantee far more loans than you can issue because not all loans will default, and the ones that do default will probably not default at the same time.  It's the difference between buying a house with cash and buying it on a 20-year mortgage.

      Of course, if we had a strong Democratic House and Senate, we'd have a different policy and wouldn't need to rely on the math of loan guarantees.  But we don't.

      "The first drawback of anger is that it destroys your inner peace; the second is that it distorts your view of reality. If you come to understand that anger is really unhelpful, you can begin to distance yourself from anger." - The Dalai Lama

      by auron renouille on Thu Oct 25, 2012 at 03:20:15 PM PDT

      [ Parent ]

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