And you dare to call yourself an a Merica first fuckup.
But what you said is not even true.
Yes, if GM and Chrysler both failed completely, someone would buy up the factories and re-open them. And we know this because the GM plant here in Ohio was closed down completely during the bankruptcy, and today it's re-opened by a different company. Granted a non-union company, with non-union workers that don't go on strike, but it is open.
But when
I say what you said isn't true, is because most companies that file bankruptcy do not close down completely. That's actually fairly rare. Instead what happens is the company files a restructuring plan with the bondholders, that says they'll sell off parts of the company that are not profitable... and then in exchange the bondholders agree to take a cut to their debt, typically by allowing them to pay off the debts over a longer time frame, and thus lower payments.
GM did this. They sold off Hummer, SAAB, and Saturn, and which were not profitable. All those factories and production plants, and their Unions members were all laid off.
Meanwhile the profitable aspects of the business, Chevy, Buick, GMC, and Cadillac were continued and left operational.
That would have happened without a single dollar of tax money. Many many many companies file bankruptcy, go through restructuring and still exist.
This happens all the time.
Marvel Entertainment
Six Flags amusement parks.
Texaco oil company
American Airlines
Kodak
And many more declare bankruptcy and come back.
GM and Chrysler both would still exist today, without government taxing the poor and working people, to give to billionaire friends of politicians, in the name of helping the Unions.
That's what you supported. It was just a money grab for wealthy people connected politically to Obama. And they did this, because they knew people like you would be here defending them screwing you. Because that's what happened. You got screwed, and for nothing. Because the first thing Government did when they got control of GM and Chrysler is what GM and Chrysler would have done anyway, which is file bankruptcy, and go through restructuring like they did.
The only thing that was different, is that they taxed you, and give it to wealthy supporters of Obama.
