The HS Dent Financial Blog

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Fund Me With Billions Or Trillions, And I’ll Be Okay As Well

The car companies are not “turning a corner,” and Wall Street is not “healing.”  And yet that is what I keep hearing and reading.  The price of cars went up a few percentage points after falling for years.  This points to better management?  Hardly.  Wall Street firms are back to business as usual, using low interest rates as their piggy bank to roll the dice on the next trade.  That’s health? Both of these economic areas have only one person to thank for the fact that they are alive and kicking at current levels today - the taxpayer.  There is no reform, no new way of doing business, no nothing that could possibly come close to the largesse shown by me and you.

 We gave - yes gave - the car companies $70 billion dollars.  We gave Wall Street firms, through payments to AIG and then back-stopped lending facilities, over $4 trillion dollars.  Who can’t “make do” on that kind of money?