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View Full Version : Big Three: government managed Bankruptcy



venkman
12-16-2008, 10:36 PM
http://www.bloomberg.com/apps/news?pid=20601087&sid=anznGlf.bQiQ&refer=home

According to Moody's, there's a 70% change that a gov't backed bankruptcy will happen. I think this is probably the right thing: auto companies will be able to restructure, and gov't backing will reassure otherwise skittish consumers that the Big 3 won't liquidate.

Solon
12-17-2008, 06:45 AM
http://www.bloomberg.com/apps/news?pid=20601087&sid=anznGlf.bQiQ&refer=home

According to Moody's, there's a 70% change that a gov't backed bankruptcy will happen. I think this is probably the right thing: auto companies will be able to restructure, and gov't backing will reassure otherwise skittish consumers that the Big 3 won't liquidate.

Seems like a good idea to me too.

On a lighter note, a friend sent this funny ad (http://www.recreatingtampa.com/2008/12/09/you-wouldnt-buy-our-cars/) to me today.