Editorial: Bailout Watch 286: Executive Decision
PeteMoran on Dec 13, 2008
@ Pch101 700 is an above average score. A majority of Americans have a FICO score below 700, which means a majority of Americans won’t even qualify to be in the car market. A FICO of 700 is supposed to be 60% of the working US population. You can debate whether they should or shouldn’t have access to credit, that’s a matter of opinion. I can't see how anyone could expect a return to the auto-sub-prime that existed before. But it is a matter of fact that they don’t have credit, and since most car purchases are financed, this is going to reduce sales substantially. Of course, but it is an industry wide problem. Otherwise, I think we got a bit off topic. I was trying to illustrate that the Bigish3 are being impacted right now by bankruptcy talk, and that the situation could be improved even with the further "problem" of Chapter 11, contrary to claims from the Bigish3 CEOs.
Vozilka on Dec 14, 2008
Phil Ressler : Given time, America’s track record is to generally do the right thing. If history is any guide that statement is indeed true... ...after it has tried all other options. first leaving unnecessarily mountains of burned soil, endless cemeteries (on own side as well) devastated markets and many former friendships in ash behind I would be more then happy if your very moderate and positive words come true. Obama may indeed be a chance. I hoped with crossed fingers that he will make it -and was relieved when the results came in. But he is basically only a lonely men with a idea against a huge, politically well inter-winded, established military industrial complex. Even so - the second coming of David versus Goliath could work another time. We shall surely find out. On one point your definitely wrong. The financial products hitting the globe now with devastating bombshells are exclusively US products - 100% - result of a criminal deregulated US market, a ceiling coming crashing down on a global tightly interconnected market. Like one family with open pestilence dancing tight left-waltz with everybody at the United Nations New-Years ball. The rest of the world is very hard hit by (given by own greed but essentially through) collateral damage of the faltering US card-house -the source of the trouble is evident. Sorry for the off topic - but its not so off topic, but right on the (car) spot at a second glance
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