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Politics : Politics for Pros- moderated
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To: carranza2 who wrote (304137)5/7/2009 1:57:19 PM
From: Nadine Carroll10 Recommendations  Read Replies (2) of 793670
 


I defy anyone to suggest a valid substantive distinction between taxpayer bailouts of the banks and O's dealings with Chrysler.

There is a difference in intent and methods. Paulson's bailouts were designed in a panic to inject money to keep the system afloat. Paulson did not act out of a desire to have government own Goldman Sachs at the end of the day, but to keep it alive.

Obama is deliberately picking winners (UAW) and losers (bond holders) from the ruins of Chyrsler, and creating an entity that will be half-owned by government and half by the UAW. He is giving Fiat a 20% stake for the sake of its small car technology with no money down, which means that he intends to tell Chrysler what to build and sell.

Obama is using the TARP money as leverage to force recipients to take deals they would otherwise refuse. Can you show me where Paulson did that?
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