Word: profited
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...could work would be for the government to offer to directly purchase all newly originated loans by banks and mortgage lenders provided the loans carry rates of 4.5% or less. Proponents of the plan say the plan would be costless, and might even turn a profit. That's because based on current Treasury bond yields, the government can borrow money at 2.7% to fund the program, pocketing a profit...
...expensive. Here's their math: In order to get lenders to make the loans at below market rates, the government would have to basically pay banks the difference between the market rate and the 4.5% they would like banks to lend at - currently 1%. That would still leave a profit of 0.8% on every loan the government helped originate through the program...
...about 2 million of those were driven by the combination of easy credit and discount pricing. In a normal economy, the true size of the business may be closer to 15 million units. The Detroit Three simply have to generate more revenue per car and, not incidentally, a profit. Right now, the revenue gap per car is $4,000 vs. Toyota...
...claims that they would not have to come back for more money soon was met with great skepticism from both the lawmakers and an economist testifying side by side with the CEOs, Mark Zandi of Moody's Economy.com. Given declining vehicle sales and market share and the amount of profit they make per car - about $4,000 less than Toyota, for example - Zandi said he expects the Big Three would survive only until fall 2009 before they would be forced to return to Washington to beg for more money. "I'm skeptical, doubtful that it's going...
...economy is a manmade invention. This financial crisis was not caused by an act of God but rather was made by individuals who chose to put the U.S. economy into extreme risk for short-term profit. The risk has come home to roost, and now it’s time for someone to go to jail...