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Originally Posted by BusterPorn
When it comes to the point where a bank will not lend them money anymore the government will. They bailed out Chrysler. They've bailed out airlines. The government would never let either go broke and close down.  |
I think they have been bailing them out, quietly, by allowing them to amass hundreds of billions of dollars in bond debt. A large portion of that is owned by the US Gov't (a large portion is also owned by foreign gov'ts, around 25% if I recall correctly from a graph I saw in a site now long lost...)
I suspect something a little more dramatic to come. Call me nuts, but I think the fact that both GM + Ford are saying "health care costs too much" is going to factor into future moves. It's unlikely that this administration would do anything that would be good for a plurality purely out of altruism, but if the biggest money industries in the US start demanding, say, single payer health care...