Lee 99

GM Debt Recovery Paints a Scary Picture for Private Investors

I believe there are laws that are supposed to circumvent situations like this. What happened there? Is the goverment above the law? Apparently it is.

General Motors: Beginning the Endgame?

Blame it on the MBA's. These dogass do nothing, know nothing, but I'm in charge, a-holes can run any and every company they touch down the toilet.
The fed ex commercial with the guy wanting to ship something and the admin trying to tell him how to do it, until he says, quite condenscendingly, "I have an MBA" to which she replies, "Oh, well then let me show you how to do it", says it all.

The guy who wants US auto cos to import the 'womanish' (is that a word?) Fiats probably has an MBA.

Driven to Bankruptcy

US automakers actually make something rather than banks who merely provide a service. BK for auto is very bad for economy as it ripples down thru millions of people involved.
More critical to overall well being of country to provide some backing and prevent BK. Worked really well for chrysler in the 80's.