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FT Washington DC Bureau Chief, Edward Luce

United States District of Columbia, United States  |  Sep 07, 2008
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FT Washington DC Bureau Chief, Edward Luce
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    AmericanEagle1392 wrote: Mon Nov 22, 2010
    Ed Luce,
    Heard you on ABC on Sunday. I was surprised to hear you say that if GM had gone bankrupt we could have lost several hundred thousand jobs. I was with a major corporation which was not bailed out. We filed Chapter 11, and re-emerged a few years later more fincancially sound than we were before because we were able to re-negotiate our union contracts and streamline our manufacturing facilities.
    Even if this GM bailout succeeds it is simply fundamentally flawed to bailout any corporation and make their problems every taxpayer's problem. They should file Chapter 11 and straighten themselves out without anyone else's help, certainly not the government's.
    What am I missing?
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