Ms Tree
Veteran
- Jul 13, 2010
- 9,731
- 9,009
- Banned
- #91
Bankruptcy requires enough money on the bank to reorganize or creditors willing to foot the bill. Neither existed at the time which is why they were bailed out. It would have been Chapter 7 not 11. Yousouthwind said:Used one sentence per chapter........took a page from your playbook!
GM, like every other company in that position, should have filed BK........................period but, that would have been detrimental to the UAW who backed BaRack...........pay back time at the tax payers expense!