Saturday, December 20, 2008

What Is a Loan?

Help me out here. I saw the following quote in an article today about the auto industry’s economic woes:

“If the carmakers fail to prove viability - a positive cash flow and ability to make good on the loans - by March 31, they will be required to repay the government loans.”

Why wouldn’t they have to repay the government “loans?” Isn’t everybody required to repay his or her “loans?”

What a bunch of hogwash.

Can I tell MFS that if he graduates with a 3.0 GPA, then he’s shown viability for his education and doesn’t have to repay his student loans? If we’ve paid our mortgage on time and in full for 12 months and don’t have a negative bank balance, does that mean we’ve shown viability and don’t have to repay our home loan? Notice I said 12 months, as opposed to the 3 ½ months the carmakers have.

I saw a promo, possibly for the evening news, a few nights ago. It was a woman (the governor of Michigan, perhaps?) saying something like: congress has pledged billions to bail out the banking industry, but the auto industry has to beg on bended knee. How fair is that?

Good grief. Hasn’t she learned life isn’t always fair? She sounded like a whiny two-year old.

I am seriously worried that our country will not survive four years of a democrat run white-house and congress. I just hope there’s enough left to work with and that people will wake up and be willing to accept some responsibility and be accountable for their decisions.

And the Republican Party better wake up, choose a promising leader or two, and start promoting that person(s). The sooner the better. NOW would be good.


P.S. Since I'm pretty sure I won't be posting again any time soon: have a merry Christmas and a happy new year, one full of peace and hope.