No. of Recommendations: 1
I don't.
There could have been other ways to handle helping out GM and Chrysler. Shafting bondholders and just handing the companies over to the UAW and Fiat didn't have to happen. One way could have been the Chapter 11 process. Another way could have been through guaranteed loans (which is what TARP more or less amounted to being in the end). Or some other way.

But just having the government step in and destroy contract law? That's not cool.

Mullaly, as much as I admire him as an exec (I thought he did a decent job as leader of Boeing Commercial Aircraft) has an incentive here: if Ford gets into trouble, then of course he'd like the option of a bailout.
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.