Why The Right Is Wrong About Saving Detroit (Mediamatters)
An emerging myth being pushed by the right contends that federal spending to
rescue GM and Chrysler was unnecessary, and that the companies instead should
have gone through a “traditional” bankruptcy. In fact, economists at the time
explained that frozen credit markets made private financing for a
“traditional” bankruptcy impossible.
## MYTH: GM And Chrysler Could Have Gone Through “Traditional” Bankruptcy
**_National Review’s _Rich Lowry: “Certainly GM Would Have Survived Just An
Ordinary Bankruptcy Process.” **_National Review_ editor Rich Lowry claimed:
> LOWRY: These companies, they needed to go bankrupt. They needed to go
through that process. And they would have survived coming out on the other end
without the taxpayer losing money on them. And they’d probably be even leaner
and meaner than they are today. Certainly GM would have survived just an
ordinary bankruptcy process. [Fox News, _America Live_, 2/7/12]
**Fox’s Eric Bolling: “GM And Chrysler Could Have Operated In Bankruptcy, Come
Out, And Then We Wouldn’t Have Spent Billions Of Dollars.”** Fox News host
Eric Bolling claimed:
> BOLLING: Just like Continental Airlines operated in bankruptcy for 10 years,
GM and Chrysler could have operated in bankruptcy, come out, and then we
wouldn’t have spent …
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Seven frozen SIAL D’Or award winners highlight record-breaking exhibition: from Edy’s Dibs ice cream treats in the United States to Stages organic … from: Quick Frozen Foods International $9.95 This digital document is an article from Quick Frozen Foods International, published by Thomson Gale on October 1, 2006. The length of the article is 3268 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.Citation DetailsT… |
