McCotter on Fox News Discussing Invevitable GM Bankruptcy

[nickchirco]

Don't by foreign cars this will cause even more job loss and economic downturn if u don't by a gm or Chrysler buy a ford

[JohnR22926]

It's called creative destruction. GM will come out of Chapter 11 much smaller, and be rid of their overwhelming retiree health care costs. They'll be leaner and meaner and will stand a good chance at being a profitable company again.

That is...if Obama doesn't try to micromanage the outcome to protect the unions. If he does, you can plan on a steady stream of taxpayer subsidies (bailouts) and govt meddling in building green cars, etc.