Comments on: Obama Says He Has ‘No Intention’ of Running General Motors http://www.theyeshivaworld.com/news/general/32499/obama-says-he-has-no-intention-of-running-general-motors.html Fri, 24 Jul 2015 17:26:55 +0000 hourly 1 http://wordpress.org/?v=3.7.9 By: avi732 http://www.theyeshivaworld.com/news/general/32499/obama-says-he-has-no-intention-of-running-general-motors.html#comment-127018 Mon, 30 Mar 2009 19:12:27 +0000 http://www.theyeshivaworld.com/?p=32499#comment-127018 “Let me be clear. The United States government has no interest in running GM. We have no intention of running GM,” Obama said. That double talk tells me just the opposite. That he has every intention of running GM. Double talk like that is a dead give away of meaning the opposite of what was said. Either that or he should have his teleprompter fixed

]]> By: akuperma http://www.theyeshivaworld.com/news/general/32499/obama-says-he-has-no-intention-of-running-general-motors.html#comment-127009 Mon, 30 Mar 2009 18:35:30 +0000 http://www.theyeshivaworld.com/?p=32499#comment-127009 In general, the government doesn’t “bail out” people who go broke through their own incompetence. Failure is part of capitalism, and the shareholders and executives of failed companies are supposed to end up broke and unemployed. At least in socialist countries the government ends up owning things with value, unlike GM or AIG who should be in bankruptcy/liquidation.

It would have been nice is someone had added a chapter to the bankruptcy law for “companies too big to fail” so the politicans wouldn’t have to make up rules as they go along.

Of course we could simply fire all the workers, sell the factories for scrap, and stiff the creditors — or the bankruptcy court could run the company — or we can come up for a better way to reorganized it.

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