you are obviously 17-20 (or intellectually younger) and living in mammy and pappy's basement. no idea what the real world is like. the auto sectors were not propped up. they were selectively raped and selectively 'rescued' but the rescues were not really what they seemed. chrysler was 'rescued' but also raped and given away to fiat in a charity 'deal' that makes no sense to anyone. fiat- remember their last great car? i don't. but anyway, in a couple years, instead of a design change, chrysler will be scrapped out and fiat will pocket the $$ because they were GIVEN all of the debt. good nafta deal for italy!
research CDO's- cranial midget- they are the main reason (not bush any more than clinton or barney fank) why we are suffering a massive recession and canada is not having nearly the hard times we are. collateralized debt obligations- a cockeyed asset/security on their best day. canada did not allow them in their market because they recognized them for what they were- dangerous and not any sort of an investment since the us gov't was largely dictating the parameters of unwise lending across the entire industry. imagine dat- canada was smarter than we were!
the problem with the C in CDO was that they were collateralized at .97% in the USA because of the gov't mandated (frank/dodd) lending practices. that's less than 1% collateralized- we were so corrupt that this got sanctioned AAA by the SEC!!! horrrors!
barney fank and crisp dodd were the ones who invented mandated lending to those who could not remotely afford it, because everyone deserves a house (remember bernie <barnie /> mac????), then imposed it on the private sector. then schoolboy timmy geithner dreamed up the CDO, an 'investment security' based on 99.3% rotten mortgage 'receivables' (lol), and the SEC sanctioned it AAA quality investment....
and then loads and loads of americans nationwide got duped into investing significant chunks of their live savings into .97% collateralized mortgage receivables as 'gold standard' securities. i know they don't teach this stuff at public high school and you probably have a big headache now- but it's not too hard to figure out- stay with it. but anyhoo m plee 8, where's the rescue for the americans who lost their savings on CDO's??????? don't we deserve one?
well would you look at that- barney, chris and timmy haven't been ethics investigated yet, or prosecuted, let alone jailed without bail pending trial. you're kidding me, 2 out of 3 still have the same gubmint positions and the third got a massive promotion and now heads up the irs! holy smokes. this is what happens in tin pot dicatorships, not actual democracies. the more you screw things up, the higher up you get!
so, mployee ate, stop watching former espn morons now propped up as 'reporters' like anderson blooper and kreep olbermann or whatever bleech blond they have in front of the mic at fox. in fact, get off the tv tube all together and go out and investigate the news outside of big corprate news companies that have to create an angle-for-ratings and curry political favor to 'survive' and find out the real story on your own. it's out there, but it doesn't come to you nice and easy through the tube while you snorkel bong hits in the basement rent-free. and it doesn't even take much smarts to find it on the internet.
even you could find the real stories- like the rest of the debacle that was the auto and financial 'rescues' (there's more) and then you have the entire banking and insurance industry 'rescue' stories to find that i'm not going to spoon feed you, the 'success' of the 'stimulus' (now measured in 'lives touched') and more but it's not what comes over the tv tube through your favorite corrupt large news media corp.