Obama’s new GM CEO: You know, bankruptcy looks really good now
Now that Wagoner has gotten kicked out, ostensibly to protect the taxpayer investment, Henderson wants to declare bankruptcy and leave taxpayers in the lurch. Unfortunately, he’s right. Had we taken a tough-love approach to the problem in November, we could have saved ourselves $14 billion and GM could have already been on its way to fixing their problems in labor and in management.
Our lawmakers should be in jail, not in charge of fixing the financial mess THEY made.
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