The big three ALREADY failed. They are being bailed. Bankruptcy is not an option for the government because it would cost them many times the amount spent for bail out. Levin said also that the suppliers will get part of the money.
So the democrats want to continually dump money into the auto part suppliers as well as the big three? Is the plan that Senator Levin talking about, govt loans or just cash infusions in return for preferred shares? How will they ever payback billions in additional loans without major restructuring, which would be almost as bad as chapter 11?
Abodian: I'm quite observant and not an American noob not being able to recognize what the issue is with our national automakers. I was referring to the day when they return to the Hill to be testified again and when they officially file for bankruptcy. Thanks for the enlightenment!
trading at 1.34 right now. Government is bailing out Citigroup with an additional 20 billion. Waiting for Obama speech in 1:39 hours. I am up 30 percent.