Quote of the Day, regarding GM bankruptcy
Yeow!
The Lessons of the GM Bankruptcy
Everybody knew it was ridiculous and unsustainable to pay UAW workers not to work.
http://online.wsj.com/article/SB10001424052748704113504575264641145227612.html
Money quote:
"The relevant question looking forward is whether the unthinkable-going broke-also could happen to America.
Everybody knows that we're running unsustainable federal deficits.... [snip] ...Continued denial and delay will prove ruinous. To put it another way: America bailed out General Motors, but who will bail out America?"
The Lessons of the GM Bankruptcy
Everybody knew it was ridiculous and unsustainable to pay UAW workers not to work.
http://online.wsj.com/article/SB10001424052748704113504575264641145227612.html
Money quote:
"The relevant question looking forward is whether the unthinkable-going broke-also could happen to America.
Everybody knows that we're running unsustainable federal deficits.... [snip] ...Continued denial and delay will prove ruinous. To put it another way: America bailed out General Motors, but who will bail out America?"