Quote:
Originally Posted by irpq11
Calm down folks. They are talking about Chapter 11. This would mean that they restructure by force and have to pay the Gov. back first. Before anyone else gets money. They would never allow Chapter 7.
Stop fearmongering. 
You'll get your Camaro. Be patient. 
Just won't be good for their rating. |
Exactly folks, Chapter 11 is not the end all of everything. I was hoping this is what would have happened instead of the bailout in the first place and now we have a bailout that may have been ineffective along with a bankruptcy perhaps in the future being forced by the Government. Before the bailout, the bankruptcy would have allowed GM to dictate what it needed to do for its own restructuring, now that a loan was given, the government will be the ones telling GM what and how to restructure.. This is a bad situation now letting the Government be more in control of things..I know it is much more complex than the way I described it but getting into politics is not my intention here. I don't want to say "I told you so", but "I told you so".