Quote:
Originally Posted by fdjizm
i don't see how bankruptcy in any term is a good thing and good for the future? if it's not a bankruptcy why are they calling it a bankruptcy instead of a "makeover" "gm will arise a stronger company" so why go bankrupt? why dont they become a stronger company now?
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Because among other things they're going to dump their pension obligations with the PBGC and break their UAW contracts. Bankruptcy value is relative to your place in the financial food chain. If your a GM retiree / employee, common stock share holder, or other debt holder and you don't have a congress person in your pocket things look bad. If your an insider, get ready for a taxpayer funded orgy. Privatize the Profits, Socialize the losses, its the American way.
