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Old 12-19-2008, 01:11 PM   #10
jhargis
Scooby Specialist
 
Member#: 110304
Join Date: Mar 2006
Location: Crestline, CA
Vehicle:
2004 Volvo S60R
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"must have thorough plans in place by March 31 or the loans will have to be repaid and the automakers will be forced into a controlled chapter 11 bankruptcy."

They're operating in the red, so they will not be able to pay back 17.4 billion in 3 months... Even foreign automakers are not posting these kinds of gains. Why not just save 17.4billion and set up that controlled ch. 11 now instead of stringing them out for a while until they file for it at the end of March?

And I really wish people would stop comparing our financial predicament to the great depression. It's really a low blow to people who had to live through the great depression in the working class. It's getting pretty safe to say that basically nobody on this forum is old enough to have been of working age during the 1930's so I don't really think many of us have a concept of just how bad it was for some people back then.
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