Not only is the government buying bad mortgages, it appears they will soon be in the market for bad auto loans. Does this mean I can stop paying on my house and my truck, so you all can take over my payments for me?

The U.S. government is considering direct financial assistance to facilitate a possible merger between General Motors Corp (GM.N) and Chrysler LLC, a private sector source familiar with Treasury discussions told Reuters on Monday.

The Treasury Department is weighing aid of at least $5 billion, which could include capital injections and government purchases of bad auto loans, according to the source, a financial policy executive who spoke anonymously because the discussions are private.

If they do this, you know that every business out there is going to want a “bailout”, and cry until the government takes their bad debt as well.

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