If The Nation doesn't take your advice to let them go bankrupt there is nothing wrong with profiting anyway. Bankruptcy the weird non-standard one that it was that Obama pushed on GM and gave away Chrysler to Fiat... Started with Clinton and NAFTA. Look at the real problem of NAFTA and the like free trade agreements that came after that to allow people to make profits from shifting jobs overseas.
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Front Wheel Bearing/Hub... Can Bearing Be Changed?
- Thread starter CORVAIRWILD
- Start date
If The Nation doesn't take your advice to let them go bankrupt there is nothing wrong with profiting anyway. Bankruptcy the weird non-standard one that it was that Obama pushed on GM and gave away Chrysler to Fiat... Started with Clinton and NAFTA. Look at the real problem of NAFTA and the like free trade agreements that came after that to allow people to make profits from shifting jobs overseas.
Big T
Well-Known Member
The non-standard part of the GM & Chrysler Bankruptcies was Obama jamming the bond holder while giving the Unions (unsecured creditors) equity in the post bankruptcy companies. That completely circumvented bankruptcy code, especially since it was the legacy union costs (healthcare, pensions) that made GM and Chrysler uncompetitive.
I think the unions have sold most if not all their equity. Otherwise, what could possibly explain the recent sabotaging of the Chrysler Ram Truck line? If you held equity, that is like shooting yourself in the foot, but the union guys will never understand ownership.