Comments on: Report: White House Considering Bankruptcy Option For G.M. & Chrysler

By: Donklephant Blog Archive Report White House Considering | debt settlement program

Sun, 14 Jun 2009 23:49:13 +0000

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By: Doug Mataconis

Doug Mataconis — Fri, 19 Dec 2008 12:06:34 +0000

John,

I agree, but rather than something “just like” bankruptcy, there’s no reason this cannot proceed through the Bankruptcy Courts

By: M. C. Smith

M. C. Smith — Fri, 19 Dec 2008 05:51:17 +0000

The four primary thoughts I have on a bailout of the “Big 3″ are
1) These companies represent the 20th century legend of the “American Dream”, our technical ability and know-how.
2) China (and other foreign investors) would love to own them.(Oh no!)
3) These are companies that actually make(!) something, by golly, they are one of those endangered beasts, the American manufacturer. They are also one of the few opportunities for ordinary folk to be productive and make a decent wage at the same time.
4) And, finally, it would be good for a cushion of time to consider how much the “loan” should be and what strings should be attached to the money so that ‘We the People’ can be sure that our money is used wisely and responsibly while these companies get their act together, a very different scenario from the Wall Street bailout.

By: Managed bankruptcy ? | The Weekly Point

Managed bankruptcy ? | The Weekly Point — Fri, 19 Dec 2008 00:12:43 +0000

[...] Points: “Report: White House Considering Bankruptcy Option For G.M. & Chrysler” at donklephant.com by Doug Mataconis. Oil Price Drop! No comments [...]

By: John Burke

John Burke — Thu, 18 Dec 2008 21:14:52 +0000

I agree that it’s the best of the options. As I wrote in my blog back on November 15 (http://thepurplecenter.blogspot.com/2008/11/motown-aid-needs-some-big-mo.html):

“Of course, a bailout will have to have some very tight strings attached — perhaps on a scale we’ve never seen in this country before. The bailout process should be approached as if it were a Chapter 11 bankruptcy restructuring, with a special federal official (chosen for his/her detachment and skill), much like a bankruptcy judge, given wide latitude to force the companies and their employees’ unions to downsize, reshape cost structures, and focus on a return to profitable operations.”

And that seems to be what the White House has in mind.