This highlights the problem I have with both parties--neither recognize that General Motors isn't all about motor vehicles, that autos are only a small fraction of its business.
It's a financial loan vehicle more than it's a road vehicle, and it involves not just auto loans but farm loans, home loans, and business loans. GM will continue to be bailed out each time it goes bankrupt and Forbes is gonna LIKE it.
Wrong-o, clara. The stuff you're talking about was spun off and is now called Ally Bank, with no remaining connection to GM.
Did you actually read the article? The main point is that O's intervention accomplished nothing that a regular bankruptcy could have and would have, aside from transferring billions from the lienholders to his pals in the UAW.
Ally Bank is a placebo spinoff, sorry. There's still more to GM than autos, which is why the article (and you) are wrong about a plain vanilla reorganization bankruptcy. That's for plain vanilla small to mid-cap businesses. GM was, and still is, extraordinary.
There's no arguing with you, is there? You just dig in and cling to whatever the ideological position requires, facts be damned!
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