William J. Holstein

The New York Times Wakes Up to The Perils of a GM Bankruptcy
April 17, 2009--After weeks and months of parroting the line that General Motors ought to go into bankruptcy, lo and behold, the New York http://www.nytimes.com/2009/04/17/business/economy/17auto.html Times has finally printed a realistic story entitled: "A Quick Bankrupcty for GM? Not So Fast." The article notes that a bankruptcy court judge would be in charge, not anyone in the Obama administration, and the judge would be required to listen to unions and creditors, at length. "Once you're in (bankruptcy), nobody knows where it's going because anyone can come into court and say no, no, no," a bankruptcy lawyer is quoted as saying.
This is must reading for anyone following the debate. Bravo to the writer, Jonathan D. Glater, for going against the herd mentality.