auto industry bankruptcy
Can Obama easily pick up where Bush left off and fix the auto industry?
Here’s the kicker. There is nothing binding about this deal. The next administration can rework it. And one of the conditions is laughable — if the automakers can’t come up with a viable plan by the end of March, then the automakers must repay the government. Oh yeah.. from what? The automakers are burning cash so do we really expect then to have anything left for repayment?
We can argue whether a bailout, bankruptcy or some other option is the right route, but this is another kicking of the can down the road. It’s dressed up, but basically the same thing.
ALL POLITICIANS ARE IN CAHOOTS!
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