Here’s a side of detailed explanation, to go with your Trump hit piece....
Trump: Rescue Big 3, but Then Its Bankruptcy
The U.S. government should proceed with the proposed bailout of the Big Three automakers, but a key condition of funding should include a massive reorganization through Chapter 11 Bankruptcy, business magnate Donald Trump says.
Trump on Wednesday said a combined bailout and bankruptcy would restore consumer confidence in the carmakers and allow Detroit to pay its creditors, which will boost the U.S. economy. The survival of General Motors, Ford and Chrysler is important to the long-term health of the United States, Trump told CNBC....
.....”If you look at the airlines, I mean, I’d rather buy a car than fly in an airline that is in Chapter 11,” said Trump.
“When Delta went, when United went, and so many others, people didn’t stop flying. In fact, I think their business went up. As long as they know the company is going to exist, people will continue to fly. You sit there as long as it takes to get wonderful union contracts and wonderful contracts with your suppliers and everyone else.”
http://www.newsmax.com/finance/StreetTalk/trump-auto-bailout/2008/12/10/id/327036/
Question...
If he wants Detroit to pay the creditors back, WHAT are they going to use for repayment? Isn’t Detroit bankrupt or on the verge of bankruptcy?
If so, wouldn’t that mean that the Taxpayers would not only bail out the businesses but Detroit too?