evnow wrote:It was unfortunate that save GM wasn't properly explained (by mass media, I guess).
GM & Chrysler going down would have taken with them so many ancilliary units, the government had no choice but to sav ethem. We (the fed govt) would have lost lot of more money in terms of health insurance for employees, unemployment benefit to all related employees and everyone else connected. Consider 50B cheap.
I agree with you here, evnow. The other side of the coin, though, and just as valid, is the unfortunate truth that GM has been legally 'fratriciding' those ancillary units since at lest the 1970s. The Flint that I grew up in in the 1960s and '70s no longer exists.
It's going to take some time to know for sure whether bankruptcy or bailout was the lesser evil.