GM considering Chapter 11 filing

motordavid · #22 02-16-2009, 10:21 PM

mgruber...we have had pages of threads on this and similar topics.
I am not an opponent of Chap 11 BK for any of the companies,
including GM, et al.

With the trillions placed in various companies, (mostly "financial"), and maybe trillions
more to come, the gov't is already printing more money than can ever be "covered".

I have no personal or, "artificial criteria for deciding what companies should or should not
be saved"; I do think letting Lehman go bust was a mistake and, that the "results" thus far,
for AIG, et al, and the "banks", both investment versions and real versions, has the jury still out.

If this process works, we will be better off, or will have missed the killer comet...if it does not,
it probably won't matter what kinds of cars any of us like, as it will be a considerably less
comfortable situation in the future, than any of us have ever experience.

My original point here, and in other similar threads is this: if Chap 11 BK is necessary for
companies, (as it seems to be for dozens by the month), it should be better for "everyone" in
the long, long run.

But, I do not participate in the venomous approach that companies of the car mfg'ers size and
product, and all their ancillary suppliers of all stripes, should literarly go out of biz, without some
serious guidance and fiscal chances. If that guidance requires 11 BK, so be it...I simply don't subscribe
to the "let 'em burn" epithet because I don't like Saturns or HemiTrucks or...

Not sure about the hammer & sickle ref, but I can see you are exercised about the topic. The central banks,
of most industrialized countries, are making moves to catch and stave off a near fatal situation;
it is not "communism", imo.

But, Good luck. Hope things work out to your satisfaction.