Friday, December 12, 2008

Deep Thought

One of the main justifications given for bailing out the auto industry instead of letting them go through Chapter 11 is that bankruptcy would kill their sales because no one would want to buy a car from a company in Chapter 11. But would anyone want to buy a car from a company that had to get a special bailout to avoid bankruptcy? Does anyone right now want to buy a car from companies that could fail by the end of the year? We're trying to retain confidence in the Big Three? Who are we kidding? That train sailed long ago.


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