Hacker News new | ask | show | jobs
by bcostlow 6420 days ago
Yeah, except GM is so shaky, and credit markets so tight, there is serious concern that they could enter a 'restructuring' bankruptcy, but end up in a liquidation, because they won't be able to secure bridge and exit financing needed operate while in bankruptcy and to actually restructure their debt.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a...
2 comments
Retric 6419 days ago
If they fixed union contracts to become reasonable and limited executive pay then I don't mind government financing as part of that solution, but giving them money when they are as broken as they are now is stupid.
link
redrobot5050 6419 days ago
All the more of an argument to let them fail.

If the "free market" does not think it is a good investment/risk ratio, why let the taxpayers take it?

link
thrill 6419 days ago
"why let the taxpayers take it?"

It buys votes.

link