Originally Posted by 3-foot
Maybe in the short term it would be worse but in the long run giving money to a company that has proven that it cannot balance the books is a losing bet.
In the long run the resources would have been better off in the hands of those who had the capital to buy the remaining resources of GM and Chrysler from the court. Those companies would be up and running by now, making useful items that the market actually wants, hiring people, rebuilding industry from the ashes. Not needing billions of dollars from the tax payer to build products that no one will want to buy in a market that can't afford to buy them.
It's a shell game of hide the debt. It will come to an end and when it does, the pain will be much worse than if it had happened in 2008.
However there is a good chance the buyers could have been from overseas along with the jobs and profits.