automakers, the t.a.r.p. money has been paid back, it was liquidity crisis well spent at the time and second point, if the money needed to be paid for with the financial reform bill it should have been ash prop operated separately. no question. and, remember, the slippery slope started slipping here because, what is the next thing that the group want and they don t have a way to pay for it. i want to agree here for a moment. i want to agree here for a moment. the t.a.r.p. money was absolutely necessary at the time. but, every one of these companies should have been forced to declare bankruptcy first. there is another subject. that is the most absolutely the statement i agree. it should have started with gm, why weren t they forced to declare bankruptcy. pat you get the final word. i want to hear pat. they did declare bankruptcy. gm was eventually bankrupt and the big difference was the banks were fundamentally decent businesses, auto making is not. i wanted you
homeownership makes better citizenship, then there is a place for fannie and freddie, but at the least they should be broken up and turned into 10 to 12 regional entities so that the centralization doesn t bring the whole house down. real estate usually not particularly in this recession. usually it s a regional phenomenon. it s up here, down there. that is what we need. if we decide to have these, it has to be broken to regional entities. david: what do we do with fannie or freddie? 20-second obituaries, founded in the 30s and 70s a darling stock for peter lynch as america fell on its knees before wall street it became wall street washroom for bad mortgages. it s a horribly broken things and they re sold for parts, declare bankruptcy, sell pieces and get out of there. we have sugar daddy stocks
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