It seems that Bush might let GM go into some kind of targeted receivership or something instead of just writing them a check.
"Under normal circumstances, no question bankruptcy court is the best way to work through credit and debt and restructuring," he said during a speech and question-and-answer session at the American Enterprise Institute, a conservative Washington think tank. "These aren't normal circumstances. That's the problem."
The problem is whether people will still buy a car from GM if the government takes over and forces them to renegotiate their contracts with the UAW. They will be essentially buying a car from a government run auto company that is in receivership. I can see people still flying UAL when they were in bankruptcy since they only need the service that one time. Owning a car and getting it serviced is a whole different thing. Oh well, I took profits weeks ago so it is just a sideshow to me now.
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