Quote:
Originally Posted by jrc1122
/....and since when is going bankrupt an honorable or respectable thing to do anyway..
Stock owners, got screwed, Many dealerships got screwed, people lost jobs, bills didn't get paid, and the tax payer was left on the hook. Both for the bail out.. and also the Unemployment benifits of all those folks who lost their jobs.
(Yes I understand Unemployment is yet another tax paid by the employer, but that isn't where 100% of the funds come from, the government also subsidizes that program as well)
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Just wondering if you ever thought of all the people that would have lost their jobs if GM had not filed bankrupsy and had completely folded? ALL the dealerships, ALL the employees, many more suppliers and even the suppliers of the suppliers could have gone under. It would have just started a chain of events that who knows how far it would have reached... those that actually closed and lost their jobs were really a small percentage of who would have lost their jobs if GM had completely closed...