GM bankruptcy or bailout?
It seems that some say a GM bankruptcy is better than bailout. Unlike the Chrysler bailout of 1979, this time things are different, because GMAC is similar to a bank. In fact, we could say that part of the 750 billion in the bank bailout should be used to shore up GMAC and preserve the network of suppliers that feed the giant automaker.
OK, so in other news, Short Circuit City cannot get Sony products, in fact, the truck were stopped midshipment and told to make a U-turn. This company has been in trouble for some time now. They will no doubt also go under.
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1 comments:
Jobs lost is one issue. The problem is oversight.
I'm not really persuaded that it's okay for banks and other powerhouses getting federal funds to spend millions on inappropriate activities because it's separate from the bailout. Tax money is freeing up their limited funds, so it still comes back on us.
AIG really gets me mad and I'm not alone.
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