4 thoughts on “Bailout Watch 199: Jackie Mason Votes No | The Truth About Cars”

  1. still a hard one Chuck… the fall out if they go under would be very severe on the people at the bottom – agree about the bosses but you can’t separate them from the workers..

    here in NZ I’ve seen the nations assets be sold over the years and then a good number of them be bought back as the free market owners were just not running the services as well as the State used to… and I’m looking forward to improved services and proper maintenance now that the State owns the trains again here… as the free market approach did not work and just took money from the companies and never invested…

    Jerome

    Jerome

  2. No, epic fail here. My response to this is about four paragraphs long, but put quite simply, saying no is another death bell for the US economy.

  3. The point I feel is that Detroit is ignoring their only logical course: Chapter 11.

    If they really, as they claim, are on the verge of some major turnaround, then restructuring and reorganization under C.11 is not only possible, it is probable. Look at the airlines! Damn near every one of them has gone in, and BACK out of C.11 in the past 30 years. Most have survived. We didn’t bail out Pan-Am or TWA, but there is STILL a thriving domestic airline business and their troubles far exceed Detroit’s!

    Handing them tax money as a reward for failure is just foolish. It didn’t work in the UK, it won’t work here.

  4. chapter 11 is not something I seem to hear about here … only seems to be US thing… but does sound like a good plan now that you remind me of the airlines that have come and gone and come back again…

    Jerome – who drives a Ford anyway!! 😉

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