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Politics : The Obama - Clinton Disaster
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To: Sedohr Nod who wrote (3411)12/20/2008 12:34:03 AM
From: RMF  Read Replies (1) of 103300
 
Don, I'm not saying we should carry the car companies forever.

I'm just saying that the "collateral damage" from their failure at this time would be catastrophic.

This isn't a typical recession where everybody just takes a hit for a while and then things work themselves out. We're talking about the entire U.S. economy on the precipice here.

GM may have a $100 per share "negative" net worth, but isn't that mainly do to funding requirements for current and future retirees?

The Toyota and Honda plants in the U.S. probably will have the same sort of problems in the future if they stick around for 50 years and have a large pool of retirees, won't they, or don't they have any sort of pension benefits for their employees?

Were you so adamant about not bailing out the banks? If we had let all our banks fail (which they probably would have), then U.S. commercial debt paper would have essentially become worthless and there would have been a mass rush OUT of any USD investments including Treasuries. The U.S. would have had to give 30% interest rates to sell their paper and and commercial paper would have been worthless at just about any price.

Everybody knows the Unions were too demanding, but I "think" that was what their members expected of them. If the NY Yankees go broke are you going to blame the player's agents because they kept getting the best deals they could?
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