re: #309 Naso Tang

But the courts would have had very little say in this if the government had not offered the loans, which the banks certainly weren’t doing. Bankruptcy or out of business. What difference would it have made?

I was just pointing out that in some mythical chapter 11 bankruptcy for GM where they somehow are allowed to proceed without loans, all the creditors and parts guys they owe money to do get screwed because they don’t actually have the assets to pay for it. And that a court— which has to approve chapter 11— would almost certainly not have approved it under those circumstances.