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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (45282)	11/20/2008 3:29:43 PM
From: nigel bates	Respond to of 149317

Absolutely. But not unless the restructuring is underwritten by government - otherwise it would very likely be a collapse. It's going to be complicated, and no real deal is going to get done until the new administration takes office. In the meantime they need several billion just to keep the doors open. The simple solution would be to let them go to the wall - until the day after, when it would get very messy again.

To: Lizzie Tudor who wrote (45282)	11/20/2008 4:03:35 PM
From: stockman_scott	Respond to of 149317

I appreciate the intentions that Congress has...And Pelosi loves to talk about how GM needs this detailed "plan" to survive before they get money...the market hates this uncertainty...we gotta save the patient first and then get the detailed plan early in Obama's Admin. in 2009...Did Paulson get a detailed plan BEFORE he pumped tens of billions of our tax dollars into the very vulnerable CitiBank...?? I don't think so and I have very little confidence in Citbank's business model...Who impacts more jobs in this country Citi or GM...?? They both are important. Congress is stubborn and they are making things worse for the economy and the stock market right now...The President and Congress are failing to deal with systemic risk and that's very dangerous...Just my view.