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| Home Front Economy |
| Bush mulling bankruptcy for automakers |
| 2008-12-19 |
| George W Bush is weighing whether to endorse a structured bankruptcy for ailing automakers to prevent a disorderly collapse of the industry. |
| Posted by:Fred |
| #2 I heard he is going with a straight give-away loan from TARP. Bush is a fecking IDIOT. I now regret my vote for the pinhead back in 04. Someone put something shiny in front of him and distract him so he toddles off and goes to screw up something LESS significant. Excepting his lucking into a win in the GWOT thanks to a good general, and his initial tax cuts, and a few other small items, he has been a gutless moron in his 2 terms. Not to mention it may be an illegal use of the TARP funds - I hope someone sues and gets an injunction to force GM and Chrysler into Bankruptcy. At that point the Govt can step in and provide DIP financing to see then through the restructuring. But 17 Bil and NO string attached for either the UAW or the execs? Gimme a break George you stupid sumbitch, STOP throwing good money after bad! |
| Posted by: OldSpook 2008-12-19 17:00 |
| #1 Bankruptcy isn't necessarily a problem. Inventories have to be reduced and production halts - Chrysler is closing for 30 days - will assist same. I would rather see these companies under competent receivership stewards that under UAW leaching. |
| Posted by: Harcourt Glomogum3991 2008-12-19 16:21 |