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The 25 billion loan that GM, Ford and Chrysler are asking for is just that – a loan that will be repaid with interest.
On the other hand, Wall Street already got 700 billion and has an estimated 60 to 70 trillion dollars worth of bad “Credit Swaps”.
In order to understand “Credit Swaps” watch this on 60 minutes.
http://www.cbsnews.com/sections/60minutes/main3415.shtml
Never forget 1 out of 10 jobs in this country are related to the DOMESTIC auto industry (not including foreign transplants).
On the other hand, Wall Street already got 700 billion and has an estimated 60 to 70 trillion dollars worth of bad “Credit Swaps”.
In order to understand “Credit Swaps” watch this on 60 minutes.
http://www.cbsnews.com/sections/60minutes/main3415.shtml
Never forget 1 out of 10 jobs in this country are related to the DOMESTIC auto industry (not including foreign transplants).
