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Bottom line: bankruptcy is no picnic
Bankruptcy should never be used as an easy way out of a seemingly impossible financial situation.
Friday: No Major Economic Releases
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[image: Mortgage Rates] Note: Mortgage rates are from MortgageNewsDaily.com
and are for top tier scenarios.
Friday:
• At 10:00 AM ET, *University of Michig...
10 hours ago
9 comments:
I thought for sure that the quote of the day was found within the article's title. I was so wrong.
Hold on, if you do it right, like GM, you get to dump most of your liabilities and the government will fund your fresh start. I guess that doesn't work for small businesses, but some animals are more equal than others.
Mr Slippery,
Bankruptcy should never be used as an easy way out of a seemingly impossible financial situation.
We should reserve it exclusively for other types of impossible financial situations. ;)
We won WW2 partially thanks to GM.
So yeah, Ed's Dog Grooming LLC doesn't quite enjoy the same level of clientelism.
We're going to look pretty stupid trying to fight WW3 with Toyota and BMW-owned factories.
As a side note, all of the world's problems were resolved this weekend apparently. Real yields are exploding higher and that can only mean one thing.
Real growth will be exploding higher! Real prosperity is headed our way! Either get on board or get out of the way!
Alternatively, we're setting ourselves up nicely for more sarcasm over the next few years. It wouldn't be the first time.
Troy,
Cry havoc! and let slip Ed's well groomed dogs of war!
Troy,
We did partially win WW2 due to GM, then we partially lost our industrial leadership of the world due to GM. 70 years after WW2, I'd say it is a wash.
I'd rather save Capitalism than specific companies, but that makes me different than George W. Bush, who had to destroy Capitalism in order to save it (fail).
Capitalism is being sucked dry by rent-seekers, not GM retirees having a decent deal after building 10,000 cars for the company.
I don't begrudge the retirees their pensions. We should all have that, and the rich should disgorge their relative gains since Reagan to pay it.
(Though that wouldn't be enough without ripping the rents out of medical care, too)
Wow! What a reversal in real yields and real prosperity today!
Apparently all of the world's problems were not solved over the weekend. Shocking!
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