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the multi billion dollars gm bail out ...

  1. 24,765 Posts.
    GM Judged Too Big to Fail as Pelosi Embraces Industry Rescue

    By Mike Ramsey and Alex Ortolani

    Nov. 12 (Bloomberg) -- House Speaker Nancy Pelosi has thrown her support behind the premise that General Motors Corp., the largest U.S. automaker, is too big to be allowed to fail...

    ``Trying to reorganize the auto industry in bankruptcy would be as close to reorganizing the whole U.S. economy as you could get,'' said Alan Gover, a bankruptcy lawyer with White & Case LLP in New York. ``The vast supply chain involves thousands of businesses, millions of existing jobs and just as many retirees, as well as whole communities and states.''

    Passage of an industry bailout plan may keep GM from running out of operating cash by year's end, which it says may happen without U.S. help. GM is the second-biggest provider of private health-care benefits and was the third-biggest advertiser in this year's first half...

    Full article at http://www.bloomberg.com/apps/news?pid=20601087&sid=a8oQkqyRcU6Y&refer=home

    Comment:
    It just never stops. Money invented from thin air is being thrown everywhere as bail out after bail out takes place.
    There MUST be consequences. These consequences imo will be highly inflationary.
 
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