mathgeek2

GM: The Bailout vs. Bankruptcy Meme

Another great post, and right on the mark.

Some combination of a pre-packaged bankruptcy with federal assistance (whether in the form of DIP financing or something else) is the only way out that makes sense.

Federal dollars without restructuring only buys time, and probably not a whole lot of time at that. Bankruptcy without explict support risks a death spiral and liqudation, with fairly dire consequences.

Hope someone in Washington is listening...