DETROIT - A government-backed bankruptcy reorganization remains an option for saving General Motors Corp and Chrysler LLC, analysts said on Wednesday, even though the automakers have said they would rather not go down that road.(Snip)
Some Wall Street analysts were disappointed that the restructuring plans submitted to the U.S. Treasury did not include key concessions from the United Auto Workers union and the automakers' bondholders...
[And their we have it: either they reorganize under bankruptcy, which is exactly what it's for, or they bilk us forever.]
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64% Oppose Any More Loans for GM and Chrysler
Wednesday, February 18, 2009
General Motors and Chrysler are back this week seeking $22 billion more in federal help, but 64% of U.S. voters are opposed to providing any additional taxpayer-backed loans for the embattled automakers.
Twenty-four percent (24%) support more loans for GM and Chrysler, and 11% are undecided.
Forty-four percent (44%) say it is better for the U.S. economy to let companies like General Motors fail than for the federal government to provide subsidies that will keep them in business.
In December, just 40% thought it was better to let the auto companies fail.
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