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

To: RMF who wrote (3479)	12/20/2008 5:54:35 PM
From: DuckTapeSunroof	Read Replies (2) \| Respond to of 103300

I think that we (the American people, and our government) really have a set of very stark choice facing us: 1) give them money without there being enough reforms to revitalize the industry. (In other words: keep pouring taxpayer money into a hole that will not fill up). 2) give them sufficient money to survive for a short period --- but conditioned upon a GUARANTEE of a successful restructuring which slashes their debt over-hang. (Either a reorganization inside of a pre-packaged federal bankruptcy... or else do the same thing OUTSIDE of bankruptcy....) 3) Do nothing and watch at least ONE of the Big Three (most likely Chrysler - which is 80.1% owned by a private hedge fund) fail and be liquidated (parts sold off to other companies, US and foreign). That last might not be as bad an option as some may think. It would at least have the one virtue of removing some capacity from the system (most analysts believe that at least 20% of our auto plants must be shut down to remove excess capacity from the system). This could help the other two return to profitability much sooner....