Government Bailout Loans

Today, I read that Chrysler will NOT be repaying the $7B in government bailout loans as part of their bankruptcy filing. I am angry that the public was mislead by the Federal Government. We are led to believe that these are loans, not outright grants.  Given this precedent setter, GM would be discriminated against unfairly if they file bankruptcy and their loans are not forgiven. This business of rescuing 'too big to fail' companies or industries reflect the lack of business acumen for the long term on part of our government. Here is the first repercussion resulting from heading in this direction.  I think the government has lost sight on how much $7B is.  When you take it to the level of individuals, like you and I, then 1% is a sizable amount.  This is what happens when our government gets too big.

I have decided not to right to our congress members that I usually do because I haven't heard back from my last input, and I'm feeling that it is a waste of my energy. I'm glad that I have this blog to express what I see. This is my only outlet other than those around me willing to 

listen. :)

I am glad to see the bankruptcy judge overseeing Chrysler's bankruptcy put a halt to the rush to ram it through the court.  I do believe in our justice system and am watching to be reassured that it prevails over the pressure from our government.