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Politics : The Obama - Clinton Disaster
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To: RMF who wrote (3285)12/16/2008 1:49:49 AM
From: DuckTapeSunroof  Read Replies (1) of 103300
 
"If you let it sink then it could take 300 million down with it."

That's more then just a bit on the high side --- direct unemployment more likely in the 1 to 2 million range if the Big Three fold, and that's ONLY if they go into disorderly bankruptcy and liquidation. (And liquidation has never really been in the cards).

But, I'm NOT at all suggesting 'letting them sink'.

What I am suggesting --- a pre-packaged and government assisted bankruptcy and rapid reemergence of new, revitalized companies --- is likely the ONLY WAY to save them. Because they are just doing a slow death roll right now --- merely tossing a couple of billions at them doesn't fix anything, keeps the patients sick, and DELAYS the recovery.

They simply CAN'T survive carrying that much debt.
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