First off, I oppose all bailouts. But given that politicians are stupid idiots, here’s an idea that I think makes the most sense if they do something stupid: Government guarantees the Chapter 11 “debtor in possession” financing that the Big Three dinosaurs need to restructure. That’s it. What do yo think?
Agreed. This makes far more sense. Get some debt eliminated and/or restructured, possibly get the union contracts tossed and get a fresh start. Problem? The Democrats owe the unions big time so they could not allow this to happen..
