re: #632 Gus 802

Apparently they’re supposed to start paying back in earnest next year. It’s easy for people to say “we shouldn’t have done it” but I would like to see a model of what the effects would have been if GM collapsed. I mentioned earlier the ripple effect on suppliers, rail transport, dealership, repair, etc. Who would have provided warranty coverage for owners of new GM vehicles and what financial burden would have been placed on those entities.

I would really like to see an economic model of what would have happened if we chose the Republican/Tea Party response to the economic crisis; No bailouts, no stimulus. How much of our financial infrastructure would have collapsed? What would a run on banks look like in the modern world? How far down would unemployment go? How would it affect economies around the world etc. Im pretty sure the Republican/Tea Party plan would have been close to catastrophic for the country.