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SageMother asks:Is bankruptcy the answer?
I just heard that GM hasn't turned their business around and, as a result, the CEO has resigned, by invitation of the White House. I guess they didn't take Obama seriously.
Do you think GM and Chrysler should be forced into bankruptcy? If not, do you the the government should simply take over and revamp the business for them?
Do you think GM and Chrysler should be forced into bankruptcy? If not, do you the the government should simply take over and revamp the business for them?
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the trouble is
if they go into bankruptcy, all the workwers will lose their jobs. Also all the small traders who supply them, everything from screws to toilet paper will not get paid, and they could also go into bankruptcy. Unfortunately the government has no choice but to support them until they sort it out. GM and Chrysler are too big to just let slide. Too many others are affected.e
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Tough situation...
I've heard the theory that it would be best in the long run to allow businesses to fail. I realize these are huge businesses and the results would be very extreme.
I don't think that redistributing money that the government doesn't have is the answer, especially considering how much of it manages to not go to the problem, referring to the AIG bonuses and the amount skimmed by the government for salaries and outrageous pensions.
I don't think that redistributing money that the government doesn't have is the answer, especially considering how much of it manages to not go to the problem, referring to the AIG bonuses and the amount skimmed by the government for salaries and outrageous pensions.
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On the fence
I don't think that those car companies should file bankruptcy, but I also don't like the idea of the governement taking them over!
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