I dunno, do they live in Iowa?
So um, I have a Chevrolet truck and it is financed through gmac. It seems now I also own Chevrolet and gmac. Wouldn’t it be prudent to avoid the middle man and mail my truck payment to myself?
The real problem with this gubernut involvement in a private industry is the rule of law has been broken. The fixed income folks, the debtors, bond holder, preferred stock holder get pennies on the dollar while the UAW get a huge % of what's left. So in the future if you want to buy a corporate bond what assurance do you have you'll be in the front of the line just behind the bankers??? Right ... zero, and that the real problem with the car czar stealing.
One of my all time favorite commercials in the 70's was the "Baseball, hot dogs, apple pie and Chevrolet" ad. I can still remember the jingle.
With next Monday's filing they'll be gone and I can only imagine some of the new models...the biden, the hillary, the dear leader and the algore to name a few. All putt-putts that will never survive highway driving against 18-wheelers.
We live in Cuba now.