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Politics : The Obama - Clinton Disaster
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To: DuckTapeSunroof who wrote (66861)4/6/2012 11:38:22 AM
From: TimF  Read Replies (1) of 103300
 
Debt protection from bankruptcy generally isn't considered government aid. If you really want to consider it as such, I disagree, but fine change my statement to "GM likely would have survived without massive aid other than bankruptcy protection".

And if it was so bad off that it wouldn't have, then it probably shouldn't have gotten any sort of bailout. Government picking winners, directing investment, and socilizing privte losses is a negative thing.

So the 'unions' as you put it (actually the union-administered PENSION PLANS as I have pointed out - the unions themselves didn't get any) have 10% ownership of GM.

Which is more than they would have gotten from an impartial administration of bankruptcy law, considering the junior status of that obligation compared to the bond holders' status, but the government was partial, not impartial.
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