Rico says the government intervening in the car companies (GM and Chrysler, anyway; Ford seems to be doing better) may be unprecedented (at least since the Depression), but it's the right thing; if the bastards want our money, they can dance to our tune, or fuck 'em, let 'em go bankrupt. (Sorry to all those retired autoworkers and everyone who owns their stock, but there you jolly well are, aren't you?)
According to the news, "Administration officials emphasized they're prepared to let the companies fall into bankruptcy" and "The White House will give GM sixty days to come up with a new restructuring plan, while Chrysler will have thirty days to work out an alliance agreement with Italian automaker Fiat. The government will give both companies just enough money to survive that period. If Chrysler and Fiat reach an agreement, the government would be willing to lend Chrysler another $6 billion."
Rico asks, however: Whatever happened to Daimler?
30 March 2009
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