Corporate America stepping up!

[tpunx99GSX]

Originally Posted by 1ViciousGSX

Chrysler and GM both should have went through structured bankruptcies without government intervention, you would have had the same results without dumping all that money down the drain. But you see Tom, that would have the unions without power, and can't have that now can we?

This has been refuted many times for the simple fact that NO PRIVATE CAPITAL WOULD FRONT A STRUCTURED BANKRUPTCY OF THAT PROPORTION! There had to be government money otherwise there would be no auto industry, and like super bleeder said, it would kill a number of other companies. Again heres where historical fact comes into play. The banks were all figuring out their own problem of how to unfreeze the system, the auto companies were the least of their concern. The government stepped in so that the auto industry would not implode causing millions more unemployed. This is why i laugh when Romney says "the president did the same thing i suggested" Sorry but no he didn't, your way wouldn't work, and every economist with any knowledge agrees.