tejek,
did you notice what Obama did right with GM? He bailed them out, but then he forced them to go through STRUCTURED BANKRUPTCY! So the company that emerged was leaner, stronger, and ready to compete. Unfortunately, it still has many of the same old leaders, so they are likely to fall back into problems, but at least there's a good chance for GM going forward.
Why didn't he do the same with the banks? If he had, then we could right now be saying the banks were also looking good and ready to compete for the future. Unfortunately, he bailed them out, continues to do so, has kept the same bank leaders in place, and has not prosecuted them. So now we have banks that are insolvent and an economy that will take a decade or more to recover.
What a joke. |
