|
In response to
"GM should file and the government should provide the DIP financing if nobody else will (or provide guaranties to do the DIP). The government should "
by
pmb
|
Unfortunately, Hank Paulson and crew have shown they either aren't interested or don't know how to force the lenders
Posted by
Brian (aka trav007)
Nov 17 '08, 13:41
|
to lend money. Their plan, such as it is, looks to me to fund strong banks with the bailout money to buy weak banks.
It doesn't sound like GM can wait until January 20, but who really knows. A government bailout is going to have to come with some tough conditions, which I'm not sure the UAW would accept (or the Detroit 3 management if it means they all get canned).
|
Responses:
|