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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: puborectalis who wrote (648407)	3/20/2012 4:30:59 PM
From: i-node	2 Recommendations Read Replies (1) \| Respond to of 1580429

>> There was no money available to GM other than the gov't......tell me who would have put up the financing of the bankruptcy? First, you cannot establish that until the Chapter 11 process is underway and in most cases nearly complete, that is, until you can see how the financials clean up. That is the explicit purpose of Chapter 11. Had the union contracts been done away with through a normal Ch. 11 process, we simply cannot know how much investor money would have been available without government involvement. I suspect all of it would, however (and I suspected that at the time). However, Romney has clearly stated he would have supported government loan guarantees, which would have absolutely made the money available, without any doubt at all. Investors would have been standing in line. Had a normal bankruptcy process (still managed, just not corruptly) been done, the US government would have had no equity stake and there would have been no conflict of interests and the corruption that Obama created within the industry would never have happened. And they would have come out of bankruptcy as healthy entities unburdened by horrible union contracts. Of course, that wouldn't have met Obama's requirement of insuring union political support. Maybe lie was too strong a word; perhaps it is liberal ignorance as your post would suggest. But either way, the Left needs to stay the fuck out of business because you only serve to screw it up.