The Intellectual Redneck
2008-12-11 03:31:28
This isn’t a bailout of the auto companies. The best thing for GM and Chrysler is to enter chapter 11 bankruptcy. This bailout will save the UAW from making serious concessions, keep the same bad management team in place and protect the stockholders and bond holders from losses. There is no long term hope for the big three unless they can dump the UAW, get relief on their debt and change their leadership. Let’s hope the Senate Republicans can block this giveaway of our tax dollars.
