Don Kenobi
/ 83.5.224.* / 2009-05-04 14:28
The great dilemma today is not just companies that have already filed for Chapter 11 like Chrysler … but also those that would be in bankruptcy today had it not been for taxpayer bailouts — Fannie Mae, Freddie Mac, Merrill Lynch, General Motors, Citigroup, AIG, and others.
The great debate is not merely what to do with big companies that have already hit the skids … but also how to deal with those that could meet a similar fate in the not-too-distant future — Ford, JPMorgan Chase, Wells Fargo, Goldman Sachs, SunTrust, Fifth Third Bank, and many more.
And the greatest challenge of all will not be strictly about the failure of giant corporations. It will also be about the next big shoe to fall — the failure of the U.S. government to fund its bailout follies without severe consequences.