GM Bankruptcy
June 24, 2009 by Charles Moster
Filed under Bankruptcy
Bankruptcy is not a process that should be feared by the American people – or by General Motors. Sometimes it acts as a grim reaper. Sometimes it has the power of the Phoenix allowing failed businesses to rise from their ashes. But always it is the great equalizer which is precisely what Congress intended.
So why are GM and the country so afraid? The answer appears to be very straight forward – loss of the company and the attendant jobs. That’s arguably never a good thing.
Consequently, in our bailout driven economy, there is much talk of the Treasury, a/k/a Santa Claus, waiting on the scenes for yet another golden delivery. The great Greek playwrights had a most descriptive word for this process – deus-ex-machina, which means “chariot from the heavens”.
- read the full post from Charles Moster of MosteryWynne: “GM Bankruptcy - To Fear or Not to Fear“
