10-26-2012, 09:21 PM
samintx wrote:
That statement is SO bogus, Lemony. Obama doesn't know what bankruptcy involves. He kept saying "shutting down" and no more car companies. As a lawyer he should know Chapter 11 lets the company stay running and get its finances in order without pandering to the the Unions and Dumping the BOND holders like a hot potato.
[quote=Lemon Drop]
If Romney had had his way with our auto industry ALL of our manufacturers would be owned by the Italians, or at least somebody outside the US.
Love this part:
"For additional context, it's worth noting that the Detroit News reports today that Chrysler is adding an additional 1,100 new jobs. Why? To build more Jeeps right here in the United States."
Sammy,
Please name the company (one is enough) that was willing to lend money to GM so it could stay in operation and in one piece.
Uncle Sam was the lender of last resort. Even Bain Capital refused to bail them out.
Letting them go bankrupt without a loan from Uncle Sam would have meant breaking them into smaller pieces so that the somebody would put the capital in. Those lenders would most likely have been foreign. I'm sure you are fully aware of the state of the US capital markets at that time.
So, name any company that was willing to lend to GM.