Quote:
Originally Posted by Jamo
In a word (or a few)...NFW!!!!!!!
Let them go through BK and/or obtain investment from other mfgs. I was against the Chrysler loan a few decades ago, and I truly don't care if they paid it back...it opened the door to the failures of our corporate world to come begging ever since. Saving that POS made money for a fellow Armenian (Kirkorian), lowered the quality of Mercedes Benz and now rests in the hands of a private investment firm...who did we save it for? Where do we stop...airlines, utilities, big retail corporations, etc.? Isn't Macy's as much a fixture as GMC?
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And you can't compare Lee Iacocca to the current schmoe's that run GM and Ford. Chrysler actually paid the loan back plus interest and a small profit for the American taxpayer.
A guaranteed loan to GM and Ford? No way. I can guarantee you that Ford and GM will be back asking for more and they will never pay a dime back to the American taxpayer. Virtually, the entire product lines of both manufacturers have been bankrupt for decades. I've owed both and will avoid ever buying another again. Let them BK and reorganize.
Uh, except for the Ford GT or possibly a Corvette.
