12/5/2008 5:05:43 PM
GM is going to have to liquidate its assets now and begin to pay the 200 billion it won for the UAW, and then the 10 or 20 billion can be given to them and used to buy back the cars from the dealers so that they do not foreclose on their homes. Until that debt which is already five years old is fixed, new models is not going to fix the benefits problem that grows larger every year because of early retirements. The only cars made in the USA are government cars anyhow so the bailout is for foreign plants and their medical benefits. Ford said they can make it on their own and provide a benchmark before they pull out of debt. Obama needs to lead now; he needs the 14 months and the 12 month restore trust economy puckage. Bush is a retard; he nods at everybody so Obama needs to kick em hard. Also, who is Condoleezza; she is running the nation. Do not worry about your legal team Obama, restore trust in the economy before it is too late. Prosecute the Congress and the swindle.
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