Bankruptcy Is a Bailout

[Revmitchell]

Granted, no one likes pain. Everyone prefers to avoid it, including unions, auto parts suppliers, politicians, and auto manufacturers. So instead of confronting painful but necessary decisions in a bankruptcy proceeding, the aforementioned parties would prefer to sell a motion for progress under cover of a political bailout, which means less pain. Translation: fewer pensions cut, fewer salaries eliminated, fewer union jobs lost.

Sounds good, eh? Well, who wouldn’t opt to treat their cancer with a box of Cracker Jacks rather than chemotherapy? Tastes good, but unfortunately, it doesn’t work.


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[LeBuick]

Good try but bankruptcy isn't a bailout...

 

[rbell]

Good try but bankruptcy isn't a bailout...

But...bankruptcy is also not equal to "closed doors."

See:

K-mart
Circuit City
Delta Airlines
Continental Airlines
et cetera

 

[LeBuick]

But...bankruptcy is also not equal to "closed doors."

See:

K-mart
Circuit City
Delta Airlines
Continental Airlines
et cetera

True, but it isn't a bailout... The fear with bankruptcy in this case is the trickle down effect it will have on suppliers etc... Most of which are good honest small business owners who may or may not be able to withstand the process.

Unemployment will go up as we restructure the big 3. Obama will undoubtedly get stuck and blamed for the numbers though we all see it before he was sworn in. The question is how many jobs will be lost. The fewer the better.