Mar 28, 2009 -
Ask Dub Schwartz!
Dear Dub,
The end of March and the decision on which way GM and Chrysler are going to go is mighty close. How do you think it's going to play out?
Bernie
Well Bernie, it seems to me that we're going through some sort of perverted bankruptcy already, although we're not calling it a bankruptcy, are we?
And the big difference between what's happening now and a run of the mill bankruptcy is that they're throwing our money at the automakers while they do this. A LOT of our money.
They're attaching all sorts of strings and conditions to the money, but it sure feels like we could have just let them restructure under the bankruptcy laws and saved the cash.
How well is Detroit or any private corporation going to run when they're puppets of the government?
