i swear i’m not a cold-hearted person
But really, what is this: “The White House press secretary, Dana M. Perino, said Mr. Bush would insist on aiding only those automakers that can survive long term. ‘Long-term financing must be conditioned on the principle that taxpayers should only assist automakers executing a credible plan for long-term viability,’ Ms. Perino said in a statement.” The NYTimes article is here.
Isn’t the fact that they need financing an indicator that they are not viable? What does a “credible plan” look like? They haven’t done a fabulous job of planning thus far, why will they do it now that they know the government won’t allow them to fail?
we need to arrange a tony and laura bailout. the way i see it, the failure of even one of us would cause catastrophic repercussions in the real economy. consumer confidence will never recover. short-term solvency is the only way to avoid apocalyptic deleveraging.
yes it is absurd. any chance the ‘life support until the rest of the economy gets back on its feet’ argument has any viability?