Originally Posted by Ian Moone
As a financial guy, there is one thing that has ticked me off in debate #1 and #2. Why do Romney/Ryan let the other side get away with the phrase "let Detroit go bankrupt" without clarification.
I understand the term bankrupt means bad things to the common man. However, at the mega-corporation level, the only significant difference between a corporate bankruptcy filing and a government bailout is ...under organized bankruptcy, unions lose power. Otherwise, the business reorganized its finanance, amend debt covenants, restructures management and sheds some debt. The real losers are the common stockholders, bondholders and the banks ...aka rich people with the dems hate.
A simple compare/contrast could further expose Obama/Biden for the double-talking hypocrits that they are.
That is a good point. The who idea behind the GM bailouts was to save the Unions. So what if GM did go bankrupt? The company failed. Let the winners win and the failures fail. Same with the banks. All the government does with bailouts is perlong the problem and hurts us all in the long run.