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Politics : Formerly About Advanced Micro Devices

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To: Alighieri who wrote (581826)	8/20/2010 9:28:38 AM
From: i-node	4 Recommendations Read Replies (3) of 1579290

>> I'd love to hear your explanation as to how he made things worse... That's easy. 1) Had GM been through a normal bankruptcy process the unions would have taken the haircut. They are, after all, the primary reason GM was in bankruptcy in the first place. As it turned out, the unions are intact and were basically given the political payoff of owning a big piece of the company. 2) The taxpayers funded GM's continued losses (which is what the future holds for GM) rather than the true stakeholders. 3) Through a corrupt process the debt markets were damaged, and the next time a major corporation is on the ropes its debt holders will have to consider their positions in a different light. I could go on, but these are the obvious, key ways in which Obama wrecked the future of GM. You'd have to be stupid to buy shares in the upcoming IPO. The Chevy Volt, a vehicle which is DOA, is proof.

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