Comment

Auto Industry Bankruptcy Watch

30
zombie5/28/2009 12:13:25 pm PDT

re: #14 Killgore Trout

I think it was to give them enough time to control the process and restructure instead of just imploding and disappearing.

A company that badly managed might need to implode and disappear. Sure, doing so would give a big hit to our economy, but after they go belly up, we can start to recover economically, leaner and more efficient.

This way, we’ve just shackled ourselves to a ponderous, sick and gangrenous patient. GM will drag down our national economy for years to come. Better to have made a clean break and get the pain over with.