@FT No company is too big to go through bankruptcy. GM would have gone through
bankruptcy and emerged a more well equipment company for the next 50 years. It
could have taken on Honda and Toyota if it had gone through bankruptcy, but now
it is same old GM saddled with the same old problems and the tax payers are out
12B instead of creditors paying for it through bankruptcy court. The American market system works, the government should not try to manipulate
it...that never works.
Get a credit card, and spend @500. When the bill comes in, take a thousand
dollars from the card, and pay off the five hundred dollars you owe, and you
have another five hundred to spend. With the following bill, you take out
$1500, and do the same thing. Keep doing this until you have a balance of
sixteen trillion dollars.See why Obama doesn't want a budget
ceiling? Just keep borrowing, and printing. After this, you get those who pay
eighty five percent of our taxes to pay more, and limit their ability to run a
business they didn't build. Hmm? Can anyone say lay-offs?With
a level playing field, we'll all be in poverty, subjected to Obama's
I will never buy a GM product the remainder of my life. Go FORD.
Americans lose 12 billion. What would it have cost the tax payer in
unemployment benefits and other goverment pay-out if they had gone under?
Don't know just curious.
Wow, I was mistaken to have voted for Romney in the past election, Mr
Obama's plans for bailout have greatly benefited our nation! Good work,
only a loss of $12b! Finally something to cheer for!
Funny, I don't remember getting a dividend from my investment with GM. It
was our tax dollars after all and they have made $16B over the last 3 qtrs
alone. Wish i could run a company on other people's money and not have to
pay it back, including interest.