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Most businesses will go bankrupt and cease to exist if they are run incompetently. In GM’s case, this almost happened during the GFC but the federal government
by philwelch 3y ago
Most businesses will go bankrupt and cease to exist if they are run incompetently. In GM’s case, this almost happened during the GFC but the federal government nationalized it before eventually restructuring it and selling it back to private shareholders. You see, GM—and GM’s supply chain—is “too big to fail” (and accounts for a lot of jobs in Midwestern swing states).
- mlinhares 3y agoNo large company went out of business for good during the GFC, the government bail outs covered most of the ones that would matter in an election.
- philwelch 3y agoI don't know about that; I would consider Washington Mutual a "large company" (although perhaps not one that would matter in an election).