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Originally Posted by GBBob
Forgetting AIG for a minute...if you guys really think letting all the automakers and banks file BK was in our best interests, then I truly never will understand what you are trying to accomplish. At some point reality trumps principal, but the right is so stuck in their ideologies that there is zero flexibility to adjust to changing conditions.
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BK would have been a better option. what we're trying to accomplish is letting the market make the required adjustments. Its much smarter than government planners. if it was understood from the begginning that there would not be any Uncle Sam bailouts, then these companies would not have taken the risks they have. and the ones that did deserve to be flushed. BK is the mechanism that the market uses to repair itself to recover and grow. sure its painful, but what we're doing doesn't get rid of the pain, it just prolongs and delays it.