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December 18, 2008

Bush Mulling "Orderly" Managed Auto Bankruptcy

Either he's serious, or he's playing a bit of bad cop to make the unions reconsider acceding to the Corker Plan. Either way, it's better than the Automatic Auto Bailout TARP scheme.

The White House says a managed bankruptcy for automakers is one option being considered to help save the troubled industry.

White House press secretary Dana Perino told reporters Thursday that "we're going to do something." The Bush administration wants to avoid what it calls a "disorderly collapse" of car companies that would result in devastating job losses and sweeping economic problems.

...

Setting up a so-called managed bankruptcy would be complicated, involving talks with not just automakers but unions and other stakeholders.



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posted by Ace at 01:20 PM

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