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View Diary: Michigan to Build Windmills--If You Let Them! (70 comments)

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  •  hmm, undecided then (0+ / 0-)

    If the only reason to prop up GM is because they buy something---anything!---from these manufacturers, and therefore keep them in business, then wouldn't it be more direct for the government to just buy up a bunch of stuff directly from the manufacturers, and cut out GM as the middleman?

    I guess it depends on whether GM, on its own merits, is worth saving as well. If propping up GM is 100% useless on its own merits, and the only reason to do it is to save their suppliers, then I'd support just giving the money directly to the suppliers, e.g. by buying up a bunch of stuff for infrastructure projects, or even as direct subsidies. If there's a chance GM can actually become a useful, sustainable company, on the other hand, it may be worth bailing them out. I don't have a good read on that issue, though.

    "See a world of tanks, ruled by a world of banks." —Sol Invictus

    by Delirium on Mon Dec 15, 2008 at 09:36:13 PM PST

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    •  Bailing out one is easier than bailing out... (3+ / 0-)
      Recommended by:
      khloemi, cfk, firemage

      35,000

      Think of the paperwork alone!

      But, the question is moot... GM is worth saving in and of itself.

      Comments that say "GM workers should get retraining" without SPECIFIC DETAILS about those "new jobs" that never come are trollworthy

      by LordMike on Mon Dec 15, 2008 at 09:39:51 PM PST

      [ Parent ]

      •  true (1+ / 0-)
        Recommended by:
        LordMike

        I think bailing out more little guys is better in general than bailing out big guys, though, even though the big companies are easier to bail out. Obviously some practical issues involved there.

        I am somewhat skeptical that the money will end up going to the right people---I think most of it will end up going to GM, not its suppliers, and more of it than we'd like to think will end up with GM shareholders, bondholders, and management. But I tentatively agree that there are no less-bad feasible options.

        "See a world of tanks, ruled by a world of banks." —Sol Invictus

        by Delirium on Mon Dec 15, 2008 at 09:46:01 PM PST

        [ Parent ]

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