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All the bailout did is screw the bond holders who should have been in first position when the company went into chapter 11. Obama does enjoy pissing away other people's money, doesn't he?
Do you know how true bankruptcy works you have to go through court and it can take up to 2 yrs to get it taken care of did they do this no
Thanks for showing you dont know what the hell you're talking about. Prepackaged Bankruptcies normally take about 1-2 months. Trico for example, lasted 28 days.
And so what if they sat in bk for years? bk doesnt mean you close the doors..
Quote:
Originally Posted by arizona stallion
All the bailout did is screw the bond holders who should have been in first position when the company went into chapter 11. Obama does enjoy pissing away other people's money, doesn't he?
Dont forget, it also saddled the companies with tens of billions in liabilities to the taxpayers, something that wouldnt exist had they went through the normal bk process.
Do you know how true bankruptcy works you have to go through court and it can take up to 2 yrs to get it taken care of did they do this no
They were "true bankruptcies." They were managed bankruptcies but they were still bankruptcies. Obviously they didn't take 2 years but it doesn't really matter. Bankruptcies frequently (usually, in fact) take less than 2 years.
Quote:
Originally Posted by DJboutit
Romney clearly said if they get bailed out they will fail watch the video I posted he says that start at 0:48
I did watch the video. I can't believe I did, but I did.
Romney meant they would fail if the bailouts were used instead of bankruptcy and they didn't go through bankruptcy at all....and they did.
Michigan is not voting for someone who said if you bail them out they will fail. If they do vote for him for some weird reason they really wanted to fail and lose about 1 million jobs
If they do vote for him for some weird reason they really wanted to fail and lose about 1 million jobs
Why dont you get an education before you continue to post proving you dont know what you are talking about.. You do know that the Obama administration forced the closure of car dealerships putting people out of work, right?
The only way Romney will win MI is if the auto industry get hits really hard between now and election day and that is not gonna happen.
Most of the auto industry, isnt in MI anymore. I'm in Ohio, very close to the GM Lordstown plant, and I can tell you first hand that the employees there are not very happy with Obama..
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