Quote:
Originally Posted by irpq11
Uh, please explain how you figure this. Do you know how Chapter 11 works? It's the private businesses that take a hit that GM owes. Not entirely but they get a minimum of what their owed and over time. Yes the Gov would pay some, but not anywhere close to 16.6 Billion dollars. The gov. would get the money they allready spent, Back.
How do you figure?
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when companies go in to chap 11 they need money to do that correct? The credit markets are still pretty frozen they are getting better but NO one would provide the chap 11 financing for GM and so that leaves the gov and our tax dollars. Some analysts say that it could cost up th 100 billion to do a chap 11 and guess where that is coming from?