Originally Posted by divisionbell77
Its not GM or Chrysler folding, its all the suppliers folding that would then cause related companies, like Ford, to fold. Before you say otherwise, you might want to read the testimony to Congress where Ford flat out states letting GM and Chrysler fold will bring down the entire industry, we don't want or need your money, we need you to give it to them so we all don't go down.
It was the only bailout that actually needed to happen.
Oh, and it started under Bush, not Obama, from funds already set aside for TARP.
Let me say this again,,, GM/Chrysler would not have gone out of business had Uncle Sam not stepped in to buy union votes. Further Ford would not have folded because some plastics manufacturer went out of business.
And I don't care who it "started" under, the Federal Govt needs to stay out of the private sector; GM, Lehman, etc...