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Politics : President Barack Obama
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To: stockman_scott who wrote (45231)11/20/2008 1:30:33 AM
From: Sr K  Read Replies (2) of 149317
 
The premise of the bailout rather than bankruptcy, also stated on '60 Minutes' by Obama, is that DIP financing would not be available in the current financial turmoil.

If so, the U.S. could provide a guarantee of the DIP financing, and get warrants for the guarantee to the extent it is used, in senior position to all other debt. But (Shelby said on CR) the gov't should not pick winners or losers.

If Congress can't do it now, after January 20 it might be easier.
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