re: #93 lawhawk

Oh, and today’s walkback from promises made by the President?

How about the government standing behind all those GM and Chrysler warranties as President Obama said?

That’s over. Done. Kaput.

Newly installed car czar Ron Bloom (who has no car industry experience btw), says that the crisis has passed and the government doesn’t need to back those warranties.

On one level, I have no problem with this move. It should never have been promised in the first place (just like the government should never have provided the bailouts). However, now that they put the government behind those warranties, that was an inducement to some to buy - and now the warranties are gone - evaporated back into whatever GM and Chrysler can cobble together on their own.

Well, it was just intended to last through the bankruptcies. The real scandal is that GM and Chrysler were able to shed product liability claims on cars made before Chapter 11. Especially given that plaintiffs’ lawyers give tons of money to the Democrats.