I remember when Lee Iacocca went to Washington begging the FEDS to loan Chrysler money to avoid bankruptcy. There was a lot of concern expressed in DC about establishing this kind of precedent and rightly so. With much fanfare Chrysler repaid the loan and as a result got another larger loan from the FEDS in 2008. Unfortunately this time they were joined by GM and a number of banks as well. That dough was eventually paid back by GM and Chrysler.
The FEDS are now throwing huge amounts of cash at everyone in response to the Pandemic. If the pandemic disappears this year then maybe we get lucky and dodge the third strike. But if not very likely the West tanks economically and America will never see any of these loans paid off. Oh and that would be strike 3 for the little 3!
And that is all I’m going to say about that.