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Politics : GOPwinger Lies/Distortions/Omissions/Perversions of Truth -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (147217)	11/14/2008 2:14:29 PM
From: geode00	Read Replies (1) \| Respond to of 173976

I have read that bankruptcy is not an option for GM and maybe for the other companies. I find it hard to believe that there are no viable assets and workers in these companies. If that is the case then there isn't much we can do. The problem (maybe extortion at first and maybe real now) is that the economy is tumbling at an amazing rate. We seem to be sliding into a 10% contraction....hope not. In that case, we can't overlook fast and easy stimulus. Can we become the First National Bank of Last Resort and fund car purchases for credit worthy people instead of bailing these people out? At least then the market defines what is a viable product line and what is not. Providing these companies a direct bail out to use as the banks use them, for providing dividends and bonuses (!!!), seems like a very bad idea. Hard to say. We need more information and we can't even get that from the banks we've given all this money to.