Trump: Bankruptcy, then Bailout

Discussion in 'Current Events' started by auditor0007, Dec 11, 2008.

  1. auditor0007
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    auditor0007 Gold Member

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    For once I have to agree with Donald Trump. Congress should force the Big 3 automakers into bankruptcy as part of the bailout plan. This would allow them to make some necessary changes that they cannot under the current bailout plan.

    Ford may well be able to survive without bankruptcy, but GM's and Chrysler's problems are much too big for the bailout to truly help them out.

    Moneynews - Trump: Rescue Big 3, but Then Its Bankruptcy
     
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  2. RodISHI
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    RodISHI Gold Member

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    I had thought about that also if they have that many problems. Although there are those other things to think about like warranty issues and such. maybe they can work out their problems before it comes to bankruptcy for them.
     
  3. NOBama
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    NOBama Senior Member

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    I saw that interview on CNBC. Trump was absolutely right, IMO.

    People who are going to buy vehicles and like GM products will still buy them too. Trump also mentioned that the gov could help them by backing the warranty. These days you can also get warrantees from third party companies.

    That scenario would be a hell of a lot more palatable then just throwing money at them and "hoping" they'll survive.
     
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  4. editec
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    editec Mr. Forgot-it-All

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    I doubt anyone who supports saving GM and Chrysler is advocating that solution.

    Naturally we all assume that the money will come with strings attached that make those corporation change such that they will become viable.

    Of course, given how we threw money without strings at the bankers, one can understand your scepticism that that's how it will be done, too.

    The problem isn't government it's BAD government.
     
  5. WillowTree
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    WillowTree Diamond Member

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    youse guys keep throwing that up there.. may I remind you it was yer Democratic leadership turned that tide.. I was against that too.
     
  6. DavidS
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    DavidS Anti-Tea Party Member

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    Once again, Ford is fine. It doesn't need to declare bankruptcy and doesn't need a bailout.
     
  7. NOBama
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    NOBama Senior Member

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    Close to 60% of the country is against this bailout, such as it is. I'd say that's plenty of reason to entertain different scenario's. Trump's scenario offers a lot of protection for the investor, namely all of US.

    Washington needs to get back to the business of governing and allow our existing laws to work. These pinheads can't even govern, let alone understand the intricate workings of multi billion dollar comapnies.

    Probably no need to mention this but, I've been opposed to the TARP bill from day one.
     
  8. DavidS
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    DavidS Anti-Tea Party Member

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    I'm kind of iffy on this, but wouldn't have our financial system collapsed? If America is out of business, what's to stop the Chinese and the Russians from a hostile takeover of our territory?
     
  9. Steerpike
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    Steerpike VIP Member

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    I think bankruptcy is a good idea as well. People are acting as though the auto industry is the only industry in the country that can't go into bankruptcy and re-emerge from it. Instead, people seem to think if they fail now they'll go *poof* and no more auto industry. That's nonsense.
     
  10. Tech_Esq
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    Tech_Esq Sic Semper Tyrannis!

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    If that's the best answer, then why not pass a special "bankruptcy" law for GM and Chrysler. Empower a special judge to oversee the situation so it doesn't last forever, then give them a loan. Just as boon to the two companies, we won't call it bankruptcy.
     

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