Quote:
Originally Posted by dalmations202
If you don't bail them out, along with the layoffs from the oil field industry (gas going back down, less drilling) -- then unemployment and major retirement packages are going to be gone. Government will end up either bailing out the companies, or bailing out the individuals via unemployment packages, etc.
I don't see a win win -- it is either lose, lose or lose, lose, IMO.
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a managed bancruptcy with assistance from Uncle Sam can prevent some of the problems you predicted. But, a bancruptcy has the advantage of killing the union. If Uncle Sam won't finance the start up after bancruptcy due to a union contract that prevents the Big 3 from competing with the international economy, then the union contract will be forcibly scrapped.
It is not in Uncle Sam's interest to see the Big 3 die. See Buchanon's article. But, a managed bancruptcy with assistance from Uncle Sam with a re-structuring to a successful viable model is what is needed.