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The Stalls of Higher Thought

Jim Flaherty’s Helicopter Move to Save Errr Stimulate a Recovery

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flahertybustGlobe and Mail: The federal government plans to unveil measures to boost consumer financing for car loans and leases in its upcoming budget, a move aimed at further propping up the battered auto industry.

Finance Minister Jim Flaherty has indicated he will address the auto sector’s credit woes as part of the budget’s broader push to ease credit, according to people familiar with the matter.

In this case, Ottawa (TAXPAYERS) would repurchase car loans, leases and asset-backed dealer loans from banks and auto-related financing companies like General Motors Acceptance Corp. Those purchases would provide additional liquidity for the financial institutions to boost lending and leasing to consumers, as well as dealer financing.

bspcommentYet another clear example of the total lack of understanding of the problem and it’s possible solutions. Flaherty and Harris all but demolished Ontario’s economy with their “Common Sense Revolution” and yet Canadians and more importantly opposition parties are sitting quietly by letting these inept morons further derail the Canadian economy with their latest version of the US ponzi scheme that has become the standard reply to economic problems. BAIL’M OUT at taxpayers expense!

When taxpayers fail as spectacularly as the major banks, financial institutions and other major corporations have they quite often pay a huge price that could take them years to recover from. Not so with the current bunch or robber barrons. “Too big the fail” they cry. Why my reply is “Too small to pay”

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Written by mattliving

January 8, 2009 at 8:36 am

Posted in Economics, Politics

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