Top Republicans Call for GM to Declare Bankruptcy [McCain]

Fox News ^ | 2009-03-08

[rabscuttle385]

Sen. John McCain said the Obama administration should've let General Motors fold, rather than keeping it on life support.

General Motors should hand over the factory keys to a bankruptcy court, two top Republicans said Sunday.

Sen. John McCain, R-Ariz., said the best thing for the ailing automaker to do would be to go into Chapter 11 to reorganize some of its business agreements and come out stronger than before.

"I think the best thing that could probably happen to General Motors, in my view, is they go into Chapter 11, they reorganize, they renegotiate ... the union-management contracts and come out of it a stronger, better, leaner, more competitive automotive industry," McCain told "FOX News Sunday."

[rabscuttle385]

Even a broken clock is right twice a day.

[rabscuttle385]

*Ping!*

[ConservativeMind]

GM, DIE ALREADY! You’ve eaten up too much of our money already and you just support Union thugs with the wages you provide.

[tobyhill]

Wow! Of course this comes after billions the Government stole from us then wasted it on their sorry asses.

[Paladin2]

The best thing for McCain and the US would be to retire.

[ChicagahAl]

I was hoping for:

“Top Republicans call for Democrats to declare Moral Bankruptcy”

But I'll settle for a UAW-busting GM bankruptcy to start with.

[Joe Boucher]

McLame is not the leader of the Republican party.
McLame is a RINO turd.

[Thorin]

>>>>>Sen. John McCain said the Obama administration should've let General Motors fold, rather than keeping it on life support.

Funny, I feel the same way about John McCain.

[Sarah D.]

Do we get all that money back we’ve already wasted on them?

[lonestar]

A day late a several Billion $s short.

[max americana]

It’s unfortunate that they had to rely on McCain for a quote. This time shoot the messenger, not the message.

[DesScorp]

McCain is right on this. Let them declare bankruptcy and rebuild. Isn't that what bankruptcy laws are for?

[Oldpuppymax]

Allow all of those goodies to be taken away from GM union retirees? Fat chance. Far too many democrat donor.., vote...,er uh, far too many people on fixed incomes would be negatively affected. Yeah, that’s it.

[RightOnTheLeftCoast]

Finally some sense.

Only the unions want Detroit to continue as it has. And its competitors, of course. Break the union contracts, and you usher in a new era of competitiveness.

[Brilliant]

I don’t think that GM filing bankruptcy is going to be a good thing. But it seems pretty clear that’s what’s going to happen, and the government is certainly not going to help them stay out of bankruptcy at this point.

[LeGrande]

But I'll settle for a UAW-busting GM bankruptcy to start with.

If I am not mistaken, hasn't most of the money gone to the UAW pension funds?

[ChicagahAl]

"hasn't most of the money gone to the UAW pension funds?"

Probably true. And I suppose the Rats will figure out a way to keep the UAW intact through a GM bankruptcy, as well.

Though it would seem that a GM bankruptcy would require a reduction in the UAW wages to the level of the US non-union auto workers, like Toyota. And would also require elimination of the UAW's notorious work rules that stifle productivity.

[hadaclueonce]

who is this John McCain guy? Never heard of him...

[bill1952]

And I suppose the Rats will figure out a way to keep the UAW intact ...

Simple as pie.

Allow GM to gain bankruptcy protection and then bailout all of the union pensions and lifetime health care benefits.

Take the money from tax increases or print a few 100 billion in new bond issues.

The unions are always free to reorganize in the new shop.

[river rat]

"Even a broken clock is right twice a day."

McCain isn't a broken clock - he's a fool that sees the way ONLY after all other routes have been destroyed and someone leads him by the hand to the correct route..

Even THEN he misses the boat.

Obama's Leftist thugs will NEVER permit the proper solution to American Auto builders root problems: Unions, Government mandates, artificially high priced fuel and ignorant management...