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Article from marketwatch:
The fate of GM will hit our wallets whichever way it turns
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* Why General Motors matters
http://www.marketwatch.com/News/Story/Story.aspx?guid=5df1a97a73794d68aaab773059d21b10&siteid=nwtpf&sguid=qQp1kUJD9kiG-hGzDNh5MA
If General Motors Corp. files for bankruptcy, would you still buy one of its
cars, assuming you can afford to buy a car at all these days?
Most people would steer well clear, assuming -- rightly or wrongly -- that
there would be no guarantees a company so financially troubled would back up
its warranties or its service, not to mention whether it would be tempted to
cut corners in making the vehicle in the first place.
That is part of the conundrum the government faces in deciding how far to go to
bail out the American automaker so entwined with our culture and our economy
that we used to repeat the phrase "as GM goes, so goes the country," and
believe it.
Let GM go bankrupt and virtually insure its failure. Give it a chance to come
back, and who knows? The problem for all of us is that either choice will cost
us too much -- either in immediate economic ripple effects of losing our
biggest auto icon, or in taxes in years ahead to pay for the aid we send.
Yes, it would be nice if it hadn't come down to choosing Scylla or Charybdis.
But does that mean we should make no effort at all?
-- Steve Kerch, assistant managing editor/Personal Finance
AUTOMOBILES
WHY GENERAL MOTORS MATTERS
The screeching debate in Washington over whether the government -- that is, the
taxpayers -- should pony up another $20 billion or so in emergency loans to
keep General Motors (GM) afloat will have consequences so broad and heavy that
they will extend to the far corners of the nation. See Marshall Loeb.
http://www.marketwatch.com/News/Story/Story.aspx?guid=5df1a97a73794d68aaab773059d21b10&siteid=nwtpf&sguid=qQp1kUJD9kiG-hGzDNh5MA
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