Quote:
Originally Posted by surreyboy
the problem isnt the banks dont want to lend, they would love to lend, they just dont want to lend to people who walk away from their obligations and default on their payments.
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....and thats why credit in this country isnt flowing in this country.
THANKS
you must have missed my point....
not to argue ...but thats has always been the case with lending.except where high risk loans are given..and thats the business those companies who lend that way are in...or were in....
MY POINT WAS THIS
...if credit isnt flowing in this country the automakers as well as other industries cant make money, no matter who they are .
nobody is talking about that on the NEWS........
automakers only make money based on LARGE # OF SALES that are mostly done via car loans.....if banks arent lending to anyone except the 700 plus score range .the automakers cant make the money they need to make it .
so govt loans to those compaines will just prolong the failure of those companies.then you have a bigger problem they gave away our tax money and the downsizing or lack of jobs because of failure will kill the economy
AND I DONT HEAR THIS ON THE NEWS.....I WAS WONDERING IF OTHERS HERE ARE MAD BECAUSE THEY ARENT REPORTING THIS .
MAYBE I SHOULDNT HAVE POSTED THIS ...i just hate to see the industry going in the toilet.....
TOM