“Good” company vs. “bad” company?
It’s becoming clearer by the day that Team Obama doesn’t think GM can survive without a massive retooling, so it’s no surprise the Treasury Department is telling the General to prepare for a structured bankruptcy. The announcement is also, of course, another warning shot across the bow of GM bondholders.
At the same time, in a mix of irony, hypocrisy and chutzpah, an idea is being floated of dividing GM into “good” and “bad” companies.
So, lemme see.
Team Obama can push to fire Rick Waggoner at GM but NOT Kim Lewis at Bank of America?
Check.
Team Obama can push good/bad company division at GM but NOT in the banking sector?
Check.
Team Obama in the pocket of the financial “industry”?
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