Comment

GM CEO Resigns at Obama's Request

158
Capitalistincharge3/29/2009 3:32:24 pm PDT

While I agree that having GM file Chapter 11 is probably the only way to proceed, I hope the reality of the extent of the feeder companies also going down is understood. I grew up in Michigan and after the bust of the late 70’s-early 80’s, the place dried up. It is like a third world country now. Not just Detroit, even the UP is wasting away. The government bailing the industry out will end badly, just take longer than if they are allowed to fail.