Jarhead
Gold Member
- Jan 11, 2010
- 20,670
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no...you seem to not understand the difference between a re-org and a bailout.
A Chapter 11 re-org is done with a manufacturer becuase the firm company has value beyond IP and beyond human capital. It has machinery; it has contracts; it has inventory. A court allows them to reorg, pay debt at 30 cents to the dollar (or even less)...cancel labor contracts for renegotiation....it must show the corut a business plan that makes sense...and it moves on.
A service company can recieve a "bailout"...yes.....but that is not a debt re-org...that is a debt supplement...in essence...."here is cash, pay off your debt at $1 to $1, and get back to work
You need to re-visit your position on this. Comparing a debt re-org/business plan revision to a government bailout is not possible. You erred. Learn from it. We all make mistakes.
Sallow...you know what my business was....(lol...retirement is fun).....I know my shit ojn this topic.
Whatever man.
I know the difference and I know what happened.
Everything was going to shit at the same time. That's why we had bailouts.
And the came from the very same people who hold that government should not get involved in private business.
thus what I meant when I said you take politics at face value.
I am quite aware that Bush and other republicans went for TARP becuase:
1) Bush was a lame duck president...if he didnt go for it, he would have single handedly destroyed the GOP the demcorats would have ran on a platform of "Bush ruined the economy and now he wants to see all of our bigeest companies go under"
2) Same for all GOPers up for re-election...
You see...you tend to give credit to Democrats for decisions against their ideology becuase you think they are doing what they truly believe is needed...
I dont give that to either party...when I see straying from ideology, I know it is for political expedeincy.
I dont take politics at face value.
Neither do you for the GOP....but you most certainly do for the democrats.
as for taking politics at face value, Sallow...
When Obama said 57 states, you and I laughed and knew it was a gaffe.
When Perry said 8 justices, I laughd and said a gaffe...my guess is, you said it is quite obviopus that he does not know how many justices there are.
You take the GOP at face value.
You give the DEMS the benefit of the doubt.
I give boith parties the benefit of the doubt.
Thus why I dare you to find one post of mine that refers to a democratic politician as an idiot...or as anything less than intelligent and having a passion for his/her ideology.
Except for that one termer from Florida...HE was an idiot...and it seems the dems AND the people knew it.