|
GM, and maybe Ford will file chapter 11 re-org by June or July 2009. They will wipe out general shareholders and re negotiate pensions..
It's the only way they can survive..
it's fucked up because as usual the little people get screwed and some twice, once by losing their shares and second by paying for the bailout with taxpayer money.
i say let em fail and lets spend the money creating green jobs...
|