To bad it isn’t and they haven’t done shit with it. It was supposed to free up credit, but it hasn’t because none of the companies that got any of it are lending it anyway. All they are doing is sitting on it and we’re in the same boat weather they got the $ or didn’t. Citi is still cutting 50,000 jobs, BoA is cutting 35k jobs. And there is still a credit crunch in this country. How many times did AIG come back for more and then threw a $500,000 party with it. Where’s the oversight of the banking and finance industry? Where’s AIGs plan? How did their execs get to Washington, or better yet, did they even have to go? This whole polotical and financial system in this country is F-ed. All of them are corrupt. I’m starting to think Blogojevich is the norm not the exception.
Part of the reason the Auto makers are even in this mess is due to the credit disaster that started in the Mortgage industry. The only reason Ford isn’t in dire need isn’t because their cars are any better then GM or Chrysler’s, its because they mortgaged everything in 2006 for cash when they could get credit. Because the banks got greedy that credit isn’t available any more for Chrysler or GM, so their only other line of credit is the Fed.