Another question is what about Ford.
Their stock has surged since they didnt take the bailout and they are doing well right now
The question is what will the government do to force Ford to produce the same junk GM and Chrysler will be forced to produce.
Ford’s success in not taking the bailout makes one wonder about what would have happened to GM and Chrysler if they had gotten no bailout. Would they have found funding elsewhere?
Good question. But I fear the answer is kill foreign competion and allow Ford to up it's sticker prices to keep in line with Government Motors.
No, not if they maintained their current cost structure with the union wages and benefits. Now, if they had just gone Chapter 11 from the start, and with no government involvement—that would have been another story. I believe you would have seen massive private capital put up to restart the company quickly.
I think old Henry Ford, Sr. junped with joy in his grave at River Rouge for not taking that bailout money! But my fear is that when the CAFE standards become law, Ford will be forced to comply. As I said to another FReeper, I think we’re definitely on a path to fascism with the quasi-nationalization of our banking and auto manufacturing industries. Obama is, in effect, CEO of GM and Chrysler. Maybe “commissar” woulds be a better word!