Quote:
Originally Posted by Bilge_Rat
but they could not have restructured without the bailout
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Its called "Restructuring under Chapter 11 Bankruptcy"
its what every other business has had to do up until the dangerous precedent of the government bailout - the message the government has sent to management and CEOs is clear: "Screw up all you want... we will save your asses."
Quote:
Originally Posted by Bilge_Rat
Would the U.S. economy be better off in the long run if GM had been allowed to fail? This would have had an impact not only on GM, but the thousands of other companies which supply products to GM.
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we will never know the answer to this question... we will only know that - if it had failed and vanished another would have risen to take its place.
its called the free market. by allowing GM to fail, who knows? perhaps it could have given rise to companies producing highly stylish electric cars, like
Aptera or some other small company.