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girl gone mad

(20,634 posts)

32. The auto bailouts weren't just throwing good money after bad.

Mon Jan 16, 2012, 09:26 PM

Jan 2012

Unlike the banks, the auto companies were actually forced to restructure and bondholders had to take actual haircuts. Shareholders took losses. The government lost money in the end, but jobs were saved.

The bank bailouts.. ugh.. that was throwing good money after bad, trying to paper over structural problems and force the productive sector to take all of the bloodletting while the parasites get fatter. Just like what's happened in Greece. There's your analogy.

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Greece increasingly likely to default. [View all] DCBob Jan 2012 OP

they've increased the trauma a greek default would cause by having let it go on so long. xchrom Jan 2012 #1

I disagree. DCBob Jan 2012 #2

No, xchrom is correct. girl gone mad Jan 2012 #3

We shall see. DCBob Jan 2012 #4

Default was always inevitable. girl gone mad Jan 2012 #6

There are two kinds of default. DCBob Jan 2012 #7

Greece could have had an orderly default at any time over the last few years. girl gone mad Jan 2012 #9

I never said indefinitely.. please keep it factual DCBob Jan 2012 #10

How is this for facts? girl gone mad Jan 2012 #14

Who will pay for the Greek social programs when they default? banned from Kos Jan 2012 #15

The Real Game is to eventually Tap the U.S. for another 100 trillion or so. The Dominio effect Katashi_itto Jan 2012 #36

Neo libs Harmony Blue Jan 2012 #40

Kick The Can... SoCalMusicLover Jan 2012 #18

This argument reminds me of the auto bailouts. DCBob Jan 2012 #20

The auto bailouts weren't just throwing good money after bad. girl gone mad Jan 2012 #32

The guy who wrote this is a Ron Paulian libertarian type. DCBob Jan 2012 #26

I posted it to DU because his information was 100% accurate. girl gone mad Jan 2012 #27

Maybe.. DCBob Jan 2012 #29

Can you address the content of the post? girl gone mad Jan 2012 #30

I already have. DCBob Jan 2012 #31

When Greece defaults Harmony Blue Jan 2012 #41

You do know that when Greece defaults their social spending will get whacked? banned from Kos Jan 2012 #11

It's a little bit of both. originalpckelly Jan 2012 #35

and you don't think it's fragile now? xchrom Jan 2012 #5

The US is much more stable now. DCBob Jan 2012 #8

The most important factor is the derivatives market FarCenter Jan 2012 #16

Link? That sounds like total bullshit. The CDS market is tiny. banned from Kos Jan 2012 #21

If CDS exposure is small, why all the emphasis on making the haicuts "voluntary"? FarCenter Jan 2012 #39

I've read that too. That the machinations in Berlin and Paris over that last couple of months pampango Jan 2012 #12

there was a story about a five year old girl found on the streets with a note roguevalley Jan 2012 #13

I agree with you customerserviceguy Jan 2012 #19

Yeah, that seems like common sense to most of us.. DCBob Jan 2012 #22

I've had a number of discussions with people here about the looming defaults customerserviceguy Jan 2012 #24

For sure the bottom line is its going to be hard on the Greek people no matter what. DCBob Jan 2012 #25

The denial has consistently come from the camp which pushed bailouts at all costs.. girl gone mad Jan 2012 #28

Greece should have defaulted months ago, before the unelected government was put in place. MNBrewer Jan 2012 #23

I have to admit, my first thoughts went to the unelected guys newly installed at the Greek helm riderinthestorm Jan 2012 #38

I agree 100% Harmony Blue Jan 2012 #34

Because they aren't progressives? Nt xchrom Jan 2012 #37

In Other News.... SoCalMusicLover Jan 2012 #17

Any sensible progressive predicted this long ago Harmony Blue Jan 2012 #33