The federal government has an $11.32 trillion credit limit, and it’s carrying a balance of $10.66 trillion, according to a Treasury Department spokesman.
David Weidner, MarketWatch
The first piece I’ve read that is openly critical of the US’s 2nd bank bailout fund. And I also wondered where the stories on how the automakers cap in hand meeting yesterday with the authorities went, until I seen this! Seems it was more of a roasting session for the fat cats while the authorities wait and see what can be done. The thing about GM when compared to the banks, GM has arguably been dying on it’s feet for years now, so the only thing lawmakers are interested in is risk to a wider economy that is hanging by a thread.
It’s difficult to see an end to this train-wreck cycle at the minute.
Still the markets keep turning and you have to respect the never-say-die attitude of some of the participants.