Thanks BaRack and Tree Huggers!

[Ms Tree]

Used one sentence per chapter........took a page from your playbook!
 
GM, like every other company in that position, should have filed BK........................period but, that would have been detrimental to the UAW who backed BaRack...........pay back time at the tax payers expense!

Bankruptcy requires enough money on the bank to reorganize or creditors willing to foot the bill.  Neither existed at the time which is why they were bailed out.  It would have been Chapter 7 not 11.  You

 

[Dog Wonder]

Is that your excuse for the "One Sentence Reply King" !

No excuse necessary. Why waste words on some one who doesn't understand?

 

[southwind]

Bankruptcy requires enough money on the bank to reorganize or creditors willing to foot the bill.  Neither existed at the time which is why they were bailed out.  It would have been Chapter 7 not 11.  You

Calling Bullsh!t on this one!

 

[southwind]

No excuse necessary. Why waste words on some one who doesn't understand?

And we all know your the expert when it comes to lack of words!

 

[Ms Tree]

Calling Bullsh!t on this one!

NY Times
 

None of those options were available to G.M. or Chrysler. Months into the financial crisis, rapidly running out of cash, the auto companies couldn’t find anyone interested in buying their assets. Even if they could, no banks  were in a position to lend to would-be acquirers, nor would they provide the financing needed to keep the automakers operating during the Chapter 11 process. When G.M. filed for bankruptcy in June 2009, a Federal District Court ruled that the Treasury was the only potential source for the $15 billion in DIP financing G.M. needed to continue operating. The court also oversaw and approved G.M.’s emergence from bankruptcy, contrary to Mr. Gingrich’s contention that G.M.’s reorganization was a “violation” of bankruptcy law.
 

 
DBusiness
 

From these out-of-the-gate downsizings, it stands to reason that if GM had not received the cash liquidity injections necessary to continue operating during the bankruptcy proceedings (assuming private lending sources remained frozen and unavailable), GM would have been liquidated, never to re-emerge as a going concern to serve and service automotive products in the marketplace.
 

 
Reality is a b!tch.  I call BS on your BS. 

 

[SharoninSAT]

.
 
Sounds like a Rock group… "BaRack and the Tree Huggers".    

 

[Kev3188]

Lol. Awesome.

 

[delldude]

NY Times
 
 
DBusiness
 
 
Reality is a b!tch.  I call BS on your BS. 

 
Tree gets all wet ........

 

[southwind]

From your link Tree....................guess you didn't read all of it !
 
"Rather than pursuing a government-led bankruptcy, critics of Washington’s intervention maintain that normal bankruptcy procedures under Chapter 11 would have afforded court protection (against creditors) sufficient to enable GM to sell, mothball, or streamline enough of its plants, equipment, name brands, patents, and other assets to cover its operations for long enough to transcend the desperate period of low demand for its products and services.
This view contends that GM would not have faced liquidation because, although the automaker was undeniably frozen out of external financing, the public’s demand for motor vehicles (and GM’s technology for competing for that sales revenue) remained intact, just as it did in the wake of the 9/11 terrorist attacks."
http://www.dbusiness.com/DBusiness/September-October-2012/What-if-Taxpayers-Hadnt-Bailed-Out-GM-and-Chrysler/
 
Lol. Awesome !

 

[Ms Tree]

Yep. Most disagree with that contention because who wants to buy part of a car company when the industry is in a slump?

 

[Knotbuyinit]

And we all know why the boy king insisted that the Pontiac brand be discontinued.