Quote:
Originally Posted by fbodfather
Did ANYONE see this disaster coming down the pike? (I mean the mortage meltdown followed by $4.00 gas followed by the Banking Industry meltdown - all in what? 9 months?????
>GM is doing everything in its power to avoid Chapter 11. EVEN if it Does go chapter 11, it does not mean the company goes away -- but it DOES mean that YOU, the U.S. taxpayer are going to be hit with a huge amount of 'legacy costs' ........
There is too much misinformation out there right now............and DON"T get me started on 'Bailout' -- because (everyone repeat in unison 
It is NOT a BAILOUT we're asking for. |
The ones who set it up in the first place new exactly what was coming. They made their money and are now paying 10 -12k a month in personal security.
GM ect cannot be let into bankruptcy for several reasons.
1. Congress (mostly democrats) are hugely responsible for the current situation of the American auto industry. The have forced hundreds of billions of unfunded bullshit mandates on the industry, they have created a unfair playing field for the companies to compete with, they had a huge hand in the credit blow up and have allowed the continuation of labor unions.
2. If GM or any of the others went bankrupt it would cost us 10x as much as any assistance now.
3. I own $1,600 in GM stock
