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Politics : Formerly About Advanced Micro Devices

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To: RetiredNow who wrote (756874)	12/9/2013 7:18:51 PM
From: tejek	Read Replies (1) of 1574649

Oops, I was wrong...........but why did you leave this portion of the article out of your post: Still, the bailouts may have been a good deal for both the economy and the Treasury. Lew said that if both companies had gone out of business, which was a serious risk in 2009, it would likely have caused widespread business failures among suppliers across the country. Experts said that it could have even forced other automakers such as Ford Motor ( F, Fortune 500) into bankruptcy, due to a lack of auto parts. Lew said the government also would have been on the hook for pension payments for retired autoworkers that were backed by the Pension Benefit Guaranty Corp., a federal agency. The failure of GM and Chrysler would have cost the federal government between $39 billion to $105 billion in lost tax revenues as well as assistance to the unemployed, according to a study released Monday by the Center for Automotive Research, a Michigan think tank. money.cnn.com Its Econ 101 MM........when will you learn?

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