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Politics : The Obama - Clinton Disaster -- Ignore unavailable to you. Want to Upgrade?

To: RMF who wrote (3395)	12/18/2008 1:53:13 AM
From: Neeka	Read Replies (2) \| Respond to of 103300

You and all liberals are so damned generous with other people's money. As a taxpayer, I say stuff it.

To: RMF who wrote (3395)	12/18/2008 9:10:02 AM
From: DuckTapeSunroof	1 Recommendation Read Replies (1) \| Respond to of 103300

Re: [The damage already done] "I'm NOT so sure. Those auto workers are still drawing pay checks and paying taxes. They are supporting local businesses that depend on them." Well... I am sure. But, let's be clear about what kind of 'damage' I am referring to. I am talking about TWO specific forms of damage (& nothing else): 1) Damage to the stock valuations. (99% of the equity value has already been evaporated. So, from the point-of-view of the stock holders they are already wiped out and bankruptcy does no further great damage by wiping clean that last 1%.) 2) The question you raised, that the public has been polled on: "Would you buy a car from a bankrupt company?" (Majorities said 'No'.) As I pointed out --- the same per percentages of people would give the exact same 'No, I would not buy' answer if they were asked if they would choose to buy a car from a company that was ON THE VERGE OF BANKRUPTCY, or was considered almost a SURE THING TO GO INTO BANKRUPTCY IN THE NEAR-TO-MID-TERM FUTURE. This is perfectly logical choice not to buy from a company that may not be around long enough to support their warranties. My argument is that, in this regard, the 'Damage has ALREADY BEEN DONE'... because these companies are on the brink of bankruptcy and EVERYONE KNOWS IT. So, far better for the government to arrange for a pre-packaged and quick bankruptcy, which will slash the debt loads of these companies and allow them to EMERGE from bankruptcy reinvigorated and much STRONGER --- and if government aid is required, which I believe it will be, that aid should be given to help them reemerge from bankruptcy (perhaps to help finance an independent third party to stand behind warranties for a while...), and NO GOVERNMENT MONEY should be expended on them in the absence of bankruptcy reorganization... because that would just be wasted... would PROLONG their WEAKNESS, and prolong their slow-motion collapse. Those TWO distinct areas (stock values and the public not wanting to buy from the companies currently) are the areas that I was talking about when i argued that the 'damage was already done'. I WAS NOT talking about any of the various disaster scenarios that are being bandied about by various industry flacks and captive politicians talking about MILLIONS and MILLIONS of immediate American job losses... which would, of course only be the case if a total collapse and LIQUIDATION of the industry were permitted to happen (not a REORGANIZATION under bankruptcy laws). And that --- total LIQUIDATION --- is neither a realistic possibility politically, nor economically. (It is just a fear tactic being bandied about....)