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Politics : Formerly About Advanced Micro Devices
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To: Alighieri who wrote (594092)11/23/2010 10:52:49 AM
From: i-node4 Recommendations  Read Replies (1) of 1580442
 
There is nothing spurious about the argument. Anyone can see that GM would have been able to present a solid reorganization plan without government involvement and many experts on the subject have echoed that fact.

TARP, at least the Bush portion, worked wonderfully. The taxpayers will never get the Obama portion back. This, in no way, suggests the GM bailout was a good idea. GM should have been allowed to sink or swim. That would not even foreclose the possibility of loans.

But to have the obama administration take an equity position, fuck with the liquidation priority of the stakeholders, and play an active role in the bankruptcy was grossly incompetent behavior that a better president would have stayed away from.
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