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

    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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