“if you buy a car from Chrysler or General Motors, you will be able to get your car serviced and repaired, just like always. Your warrantee will be safe.
In fact, it will be safer than it’s ever been. Because starting today, the United States government will stand behind your warrantee.”
President Barack Oborg
Noooooooo….. This doesn’t scream SOCIALISM at all……
“if you have a bank account from any bank in the United States, you will be able to get your deposit insured up to $250,000, just like always [or at least up to $100,000 as of just a few months ago - ed.]. Your warrantee will be safe.
"In fact, it will be safer than it’s ever been. Because since 1933, the United States government will stand behind your warrantee."President Barack Obama
Noooooooo….. How things have been done in the financial sector for decades……
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4 comments:
Wow, you're going from A to Z and skipping a few things here JB. A Warranty is insurance for a specific named loss. Typically there is consideration i.e. someone pays for that coverage. Car makers build that into the price of the car.
Duhh.
FDIC, Federal Deposit Insurance Corp is as you point out, a warranty or insurance. Banks pay for this. There is a risk based cost to this insurance. It ain't free.
We, the taxpayer, are picking up the new car warranty cost that has been built in to the purchase price of the new car. We, the taxpayer, aren't getting an insurance premium. The car manufacturers are getting that $$$ money. We the taxpayer are taking the risk.
FDIC might not be perfect but, the end users (banks) pay into it through annual assessments.
Last time I checked, we, the taxpayer are taking on the risk of the warranty without any premiums being paid to mitigate the potential loss.
Duhh.
And before ya'll get up in my grill, the FDIC ain't bailin' out AIG so don't even be going there!
Huh.... Apples and oranges. Nice. See if you can look beyond the end of your nose and see the big picture. You might need to put the Kool Aid down first.
I've been itching to try this one out for quite awhile now. Here goes, to all my conservative friends:
America: love it or leave it.
That was fun!
You know what, as long as I'm at it, might as well try this one on for size as well:
How dare you guys have the treasonous temerity to criticize our Commander-in-Chief during a time of war!
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