Surgery With a Dull Instrument
The New York Times is reporting that the Treasury Department is telling General Motors to prepare itself for a “surgical” bankruptcy, to be performed by the government. Secretary Geithner hopes to get the deed done quickly and to have two different companies when he’s finished, a good one with nothing but healthy assets and a bad one with nothing but dead or dying assets.
I don’t know about you, but my reading of history shows me our Federal government is woefully inept at doing anything with alacrity or precision. If this operation is going to be effective and, indeed, “surgical”, no tumor can be left behind.
(via memeorandum)
Other Posts of Interest:
Category: The Economy and Your Money
