Toofan, I am glad that you took the time to respond to my post.
The subject of AIG does not belong in this thread at all. I would love to discuss it with you in a separate thread. Start a new thread; “Why AIG was bailed out”, and I assure you, we will have a very scintillating conversation.
Sub prime-Mortgage is who?
I am glad you took the time to look up what it means. It is NOT the responsibility of the borrower to qualify themselves as worthy of the loan; the lender is required to perform due diligence before handing out bags of money. Don’t blame the borrower for the failure of the lenders to do what they must do.
Pakistan is never effected by this whole scenario, We had a bad seed now were experiencing its culture!!Incase you put this up on me ...
Don’t worry, I hadn’t put this up on you.
Pakistan does not exist in a bubble. It is an integral part of the world economy. Any ill effects in larger economies are going to adversely affect smaller economies down the chain.
All of the above discussion should not continue here. If you wish to further expand on this; please start a new thread.
The discussion about Ford is what really belongs here.
You dont watch alot of news now do you Mr. Riz?
I actually do.
I have never contested that Ford is any better than GM or Chrysler in their daily operations. I merely corrected a factual mistake in your statement when you lumped Ford along with GM and Chrysler in the dooms day scenario.
And then you wondered why:
Now you should clearly read the Alan on behalf of ford requested 9-billion repeatedly when the three CEO wrote the LoI's..However I can't understand why hasn't been Ford in Bail-out?
I watched the Senate Banking Committee hearings from gavel to gavel. You would have gotten your answer if you had done the same. Ford NEVER asked for ANY bailout money, EVER. They asked for a Federal Loan Guarantee, in case the other two slackers failed. NOT a LOAN; a loan guarantee. Alan Mulally repeatedly testified in front of this banking committee that they have no plan to ever tap into it. They have enough cash on hand to survive through current recession and be profitable again in near future.
Have you been to know that Ford is selling off Volvo to Changan of china ? Negotiations are underway? Aston Martin last year it sold off - Yes Aston Martin Never posted a Profit until it was in Fords Ownership ? why?
I did know all of this. As I said earlier, I have never said that Ford is a well managed company. They are selling whatever non trivial assets they can to raise money on their own rather than begging the government for a handout. A more responsible way to act than survive on handouts and loans; wouldn’t you say?