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I guess I'll rephrase and say that they're probably not ending tomorrow, because of the historical precedent the Fed set when they bailed them out. What's a few
by nexuist 5y ago
I guess I'll rephrase and say that they're probably not ending tomorrow, because of the historical precedent the Fed set when they bailed them out. What's a few hundred billion dollars between friends?
- throw0101a 5y agoThe Fed did not bail them, Congress did. As did the Canadian government (and not the Bank of Canada). Politicians decided that GM going bankrupt would be too disruptive, especially since it occurred during the already turmoil-filled 2008-2009 timeframe.
- SilasX 5y agoTechnically, the -2008 General Motors doesn't legally exist anymore, all the assets (including brand) were transferred to the restructured org.