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Politics : American Presidential Politics and foreign affairs
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To: DuckTapeSunroof who wrote (35466)5/16/2009 5:07:21 PM
From: TimF  Read Replies (1) of 71588
 
Here, with Chrysler, there are still possibly viable assets... a business which - if properly restructured - might well be able to cover it's pension obligations without costing the taxpayer the whole dime.

One of the ways to make it more profitable going forward so that it could potentially cover its obligations would be to release the company from its union contracts.

And the obligations going forward are not just the pensions but rather to all the creditors. Effectively pushing the costs on the senior creditors by making them take a bigger haircut than the pension fund and other less senior creditors may enable Chrysler to "cover it's pension obligations without costing the taxpayer the whole dime", but if the government is going to intervene and transfer the cost it should assume the cost itself (in this case through the FPGA).
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