Nah. First off, not all pay it back. Solyndra? But once you make the loan, if they don't pay it back, then that's it. You can't bleed a rock.
Now if you suggest we make CEOs and the board of directors personally liable... I'd be for that, but of course not a single company would take such a loan on those terms.... which of course is why I'd support that.
Second, as with most things out of government, the numbers are fudged. The 'on-budget' amounts might be paid back. But behind the curtain, a ton of double dealing has gone on.
The most obvious is GM, which claims to have paid back it's loan with interest. Of course that ignores that GM got tons of tax money as part of the bankruptcy co-opted by the government, in government stock, which the Treasury later sold at a loss.
But that's not all.... While GM did pay back the loan, many people don't know, they paid it back with tax money from a government funded escrow account. So GM paid back the government loan, with government money.
http://www.nytimes.com/2010/05/02/business/02gret.html?_r=2
And lest you think it was only GM that did this.....
Banks Repaid Fed Bailout With Other Fed Money Government Report
Even the huffington post was willing to point out that banks paid back most of their bailout loans... with other government money.
But there is a final reason, I'm completely against this.
There is a reason companies are willing to spend hundreds of billions on lobbying government. And it's not that hard to figure out....
It's because they get stuff. If companies got nothing for their lobbying, they wouldn't lobby anymore.
Every single time that you allow our government to give out ANYTHING.... ANYTHING AT ALL.... to anyone anywhere.... you are directly encouraging lobbying of our government.
This was several years back, but the BBC interviewed a congressman (from another state so I forgot his name, or I'd know it and be voting for him), but he was talking about lobbying in Washington, and how a group of lobbyists spent some big dollars to lobby him.
And he expected them to promote some general legislation. Instead they wanted him to support directing some research funds to their specific company. He said, no, and not only that, but he opposed all money given to specific companies, and pointed out the constitution didn't give government the right to fund specific companies.
Funny thing...... they never spent money to lobby this congressman again. I don't think it was Ron Paul, or I would of remembered that. It does sound like him though, in retrospect.
Someone said it best, as long as money flows out of government to private industry, there is a monetary incentive to direct that flow of money. And that's the whole point.
So yes, I want government to not give out a single loan, or grant, or subsidy, to anyone for anything, no exceptions.
