Wednesday, December 10, 2008

Tax Dollars at Work

The government has given GM $15 billion of your tax dollars. So what will be done with that money? Give it to deadbeats it seems.

I heard a commercial on the radio today that essentially said this: Come on down and buy a Chevy. Credit scores don't matter, GMAC will approve anyone with a FICO over 550 due to recent actions by the federal government.

So the whole economic meltdown was caused by people borrowing money that they could never pay back. So how is the problem being fixed? By providing government money to lend to deadbeats with a FICO of 550 that they will never pay back.

I guess pretty soon a 550 FICO score will mean automatic approval for a $750K mortgage. That's the only logical way to stop the housing crash right?

It is beyond perverse.


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