ShmoopTube

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Finance allah shmoop what is a bailout I'm sinking Yeah

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this poor guy needs a bailout he's general motors in

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two thousand nine he's greece pretty much always he's illinois

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in california at some point this next decade Well a

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bailout generally refers to a more well heeled well financed

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the mama figure coming in to pay the bills of

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the derelict deadbeat who misstepped and well now can't make

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payroll The notion of a bailout is a politically charged

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one You can imagine that ford wasn't very happy about

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gm getting such a gift when obama bailed them out

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courtesy of a gift from us taxpayers Yes the bailout

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save gm worker jobs for a while but it also

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said a frightening precedent in this country like what happens

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when the next company manages itself poorly Well the feds

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come in and just bail it out as well with

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no real consequences Well given the ford competes directly with

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gm and ford got no bailout how would you guess

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those workers feel Yeah henry is turning in his grave

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A bailout of greece revolves around its role as a

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kind of edgy international chess piece like right between the

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west and the east kind of like if the west

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doesn't bail out greece will china russia saudi arabia will

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greece is kind of the new cuba in that chess

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game as the u s and russia tussled over the

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management of cuba dot com in the sixties you know

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bay of pigs and all that but greece well simply

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put does not manage itself well It allows for ah

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highly unionized thirty two hour work week with six to

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eight weeks of vacation a year And greece has a

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history of corruption where the wealthy have easy legal vehicles

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behind which to hide their earnings so they pay little

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or no taxes Is it fair to say other countries

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who work their butts off to just keep bailing out

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greece Well then we have california and illinois states both

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likely to go bankrupt in the next decade or so

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swimming under massive government pension liabilities Is it fair to

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take money from the disciplined balanced budget states like utah

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and wyoming in florida and texas and just give that

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money to the derelicts in california and illinois Why would

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that be fair utah florida and texas and the gang

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Don't buy everything they want They respect their budgets but

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some states don't When it's your tax dollars being given

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over in a bailout and it'll be interesting to track

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how you feel Politically everyone loves to bail out cute

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looking derelicts with other people's money When it's your own

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maybe not so much looking at hypocrisy Dot com khun 00:02:41.62 --> [endTime] khun lead by that website Oh

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