Can Someone Please Explain this to Me????

[righteousdude2]

I was reading the following article, and I couldn't help but notice that GM, and bankruptcy were mentioned in the same breath, In fact, the author stated that due to bankruptcy, GM postponed research for nearly two years.

I thought that GM was bailed out to avoid bankruptcy? I thought that this was one of the main criticisms of Romney [who stated that GM should have been allowed to go belly up] during the election?

After you read this, I'd like some explanation (s), and I'd appreciate backing up any thoughts shared that say GM "never" went through bankruptcy, as stated at least twice in this article?

The truth seems to be out, folks, and that is that the government may have bailed GM out, but they still filed for bankruptcy to reorganize, and that seems to be a contradiction to what the public is being told.

Then again, the anti-Mulsim film [on youtube] was the reason our ambassador and three others died on 9/11/12.

SEE: http://hosted2.ap.org/CARIE/6b85546...niversary/id-9437ed225dcd40d9838e7274a91a7c3b

 

[Salty]

Are you saying that Obama did not tell us the full truth

 

[righteousdude2]

Not only BHO, but...

Are you saying that Obama did not tell us the full truth

...the liberal media. Were we hoodwinked as a taxpaying society to believe the bailout kept GM from bankruptcy? That is what I thought we were being told? Is that what you understood? This article is interesting.....:smilewinkgrin:

 

[InTheLight]

Romney advocated that GM go through a managed bankruptcy using private equity funding. Since there was no private equity firm that would undertake this task he was essentially saying to GM, "you're dead." It would be like the president of Mexico saying he thought that Mexicans should land on the moon. Well intentioned idea, but no practical way to do it.

Romney never said GM should go belly up. Romney stated his managed bankruptcy plan in an op-ed piece in the NY Times. The editor of the NY Times wrote the headline, "Let Detroit Go Bankrupt."

The government was the only entity with the capital to run GM through a managed bankruptcy. That is essentially the end result of the government bailout of GM and Chrysler.

 

[righteousdude2]

Very Good Explanation....

Romney advocated that GM go through a managed bankruptcy using private equity funding. Since there was no private equity firm that would undertake this task he was essentially saying to GM, "you're dead." It would be like the president of Mexico saying he thought that Mexicans should land on the moon. Well intentioned idea, but no practical way to do it.

Romney never said GM should go belly up. Romney stated his managed bankruptcy plan in an op-ed piece in the NY Times. The editor of the NY Times wrote the headline, "Let Detroit Go Bankrupt."

The government was the only entity with the capital to run GM through a managed bankruptcy. That is essentially the end result of the government bailout of GM and Chrysler.

...and quite succinct, too!:thumbs::thumbs: