Hmmmm
Didn't we give all this money to Chrysler and GM because them going bankrupt would devastate the economy. But now Chrysler is going in bankruptcy and restructuring and everyone says it is a good thing.
So why didn't we let them go a few months ago and save ourselves a few BILLION dollars?
Exmi is: CYNICAL.
So why didn't we let them go a few months ago and save ourselves a few BILLION dollars?
Exmi is: CYNICAL.
posted by exMI | 11:21
3 Comments:
Because with the former plan, the government and UAW wouldn't wind up with 90% of the stock in the reformed corporation.
ah.... I was right to be cynical.....
Of course. Now when the stockholders take a bath on the impending bankruptcy...U No Who gets the proverbial shaft. Private profit : public risk. Ain't capitalism wonderful ?
My friend Rick B at Ten Percent is far too 'leftie' for the likes of you and has posted some lovely characterizations : but I think that summation succinct. Do you remember from your study of history all the anti Monopoly legislation that used to be in place ? Don't hear of it much these days, do you ?
I figure the place is likely to go to Hell in a Handbasket while the Robber Barons ( latest iteration ) consolidate their holdings at public expense.
El Salvador isn't in the news much. Shame. I look to it as a precursor for what is coming our way with rocketship velocity.
I posted a poor translation of an article about their trials trying out a new toy from Google.
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