NoKaBosh
2010-08-09 08:23:08
What happened to GM & AIG is a harbinger of what the gov’t will do to other commericial entities under the recently passed Finance Reform Act. That Act allows the gov’t to step in and declare a company or bank in danger of failure (as if we don’t already have regulators who are supposed to warn of that). The assets of the bank or entity will then be divied up according to the gov’t's whims and not by a court under normal bankruptcy proceedings. We are looking at a massive growth in gov’t and corruption. This Act will create more GM’s down the road.
