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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (501466)8/5/2009 1:00:06 PM
From: i-node  Read Replies (2) of 1576346
 
>> This is a typical, wingnut red herring.

Not exactly. After all, GM and Chrysler are government automakers. It speaks to just what a mistake it was for the government to take over these companies.

We, the taxpayers, are stuck with them forever. There is plausible scenario in which these companies become privately owned without the taxpayers taking a huge, as yet, unfunded loss on them (basically, dumping these turkeys).

And the reason? Because Obama didn't allow the Chapter 11 process to work which would have eliminated the inordinate labor costs and given these companies some chance of becoming profitable one day. Out the window.
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