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Bridge Loan - But to Where?

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December 12, 2008 – Comments (3) | RELATED TICKERS: GM , F

OK: the Detroit Bailout failed in the Senate. President Bush has stepped up to the plate and is working on $$$ taken from TARP. OK, granted. However: this amount of $$$ is only enough to tide Detroit for a month or two, based on the $B that Detroit is burning through PER MONTH. OK: the new president will re-issue more $$$ a couple of times. Problem: car sales have not recovered, and will not for at least another year. Now what?

 

IMHO, chapter 11 and a bankruptcy judge who will give the UAW a severe haircut is inevitable. Is kick-the-can-down-the-road the best idea? Why not force GM and Chrysler and Ford to go immediately to Chapter 11, DO NOT PASS GO, DO NOT COLLECT $200?

3 Comments – Post Your Own

#1) On December 13, 2008 at 3:37 AM, dbhealy (38.63) wrote:

Bridge to Nowhere

 

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#2) On December 13, 2008 at 3:37 AM, dbhealy (38.63) wrote:

Bridge to Nowhere

 

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#3) On December 13, 2008 at 5:18 PM, cubanstockpicker (20.57) wrote:

Same location Sarah Palin wanted it to go.

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