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Originally Posted by ArlJim78
BK would have been a better option. what we're trying to accomplish is letting the market make the required adjustments. Its much smarter than government planners. if it was understood from the begginning that there would not be any Uncle Sam bailouts, then these companies would not have taken the risks they have. and the ones that did deserve to be flushed. BK is the mechanism that the market uses to repair itself to recover and grow. sure its painful, but what we're doing doesn't get rid of the pain, it just prolongs and delays it.
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My feeling is that under "normal" circumstances you are right...but the trickle down from those filings (multiple) would have been too much. I will argue that that the ramifications for this country from the debt we are incurring as a whole is better than the individual reprecussions of multiple automakers and banks filing BK.
03-25-2009, 05:43 PM
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