Yesterday Chrysler announced they were receiving another $1.5 billion of our hard earned tax money with the stated purpose of offering zero percent loans to folks who normally can't afford them. Does this sound familiar to anyone? Do Bear Stearns, AIG, Merrill Lynch, and Wachovia ring any alarm bells? It's the mortgage meltdown all over again. Here's a suggestion to the incoming administration that has worked every time it's been tried. Lower taxes across the board,lower them a lot and see the capital flood in.
What's next interest only car loans? Seven or eight year car loans? Free loans to union members hiding out in work bathrooms for an hour a day?
How about Uncle Sam gives the bailout money to me, and I'll loan it out to folks? I'll bet I would ultimately earn a better return than Uncle Sam ever could. All I need to successfully loan out money is a cursory review of one's FICO score. We must not being using FICO scores in this country with the meltdown we've been having? That whole "check your credit score because without a good number you can't get a loan" idea is a joke. Imagine that, I could charge the borrowers' 5% interest payable to Uncle Sam, charge a 1% commission to the US government and I could retire right now! Sign me up!
Wait. I've got one more bright idea. How about a zero percent car loan to anyone who has a valid social security number? Do you think this plan would stand a chance? Nope. Liberals would cry foul since we would be discriminating against the 20 million illegals we already have here.
I've had it. We need another Boston Tea Party to get rid of all these spineless wimps in government on both sides. It is becoming increasingly clear, my future children's children don't stand much of a chance.
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