GM and Chysler Bankruptcies

[Kevin]

I don't like him either, but I wanted to show the diversity of people who don't like the Fed's interventionist, hidden cloak room deals. My opinion of GM is more nostalgic, but the reality is better described by this article in the Economist. Transportation is on a cusp of change with the advent of "peak oil", so the mechanism and means for our transportation must change. Perhaps this long failing giant must die, but I worry about who may be able to supply our needs for transportation during this time of change. It's a good thing I live in horse country, am well versed in horsemanship, and know how to hook up a harness.

Really it's that bad that you feel we'll be back at horse and buggy?

GM failed. They were failing before the economy tanked. I fully agree that the govt should have stay out of it, and I agree that it appears that it's not following normal bankruptcy procedures, which bothers me.

This is a free market and an open market at that. If there isn't an American company skilled enough to fill the void (because there will be a void, there are people that will not buy a car that isn't made by an American company though I laugh sometimes because the car was probably not touched by an American citizen until it got to the dealership). But in the short run, the void will be filled by Ford and Saturn for the I have to have American even though they suck. And Honda, Toyota, BMW, Volkswagon, maybe Tata, and Fiat for the folks who just want a car that works.

GM failed, it should be handled like any other company that fails. You want free market and competition, you have to accept that even the best can fail. The government should stay out of it as much as possible. The courts are set-up to handle it.


As to Naders "congress should have reviewed". Maybe, but only to the extent that any owner/shareholder/bond holder is.