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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (35628)	5/21/2009 7:40:33 PM
From: TimF	Read Replies (1) \| Respond to of 71588

That is EXACTLY how American bankruptcy law is designed. Your either missing or ignoring the point. Someone is making the decision. That's not a complaint or a suggestion that someone else should, its merely pointing out an obvious fact. That someone, whoever it is (the federal government in this case), could have decided in countless different ways, and still could. Therefore there isn't one choice but rather a countless number of choices. Chapter 11 bankruptcy is designed to RESTRUCTURE the enterprise so that it sheds it's debt and emerges as a viable, on-going business. All other goals are secondary* to that primary purpose.* In theory, but not in practice in this case. Supporting the unions has been considered primary. Restructuring the company secondary, and all others at best tertiary. For that matter even in theory restructuring the enterprise shouldn't be the overall primary goal. Its a decision itself, whether to enter chapter ll bankruptcy or chapter 7. Reorganization is just a means to an end not the overall broadest and most important goal.