“It is clear that the overhang of discussions of bankruptcy is affecting buyers,” said GM CEO Rick Wagoner, whinging that the mere specter of bankruptcy is scaring off potential buyers and driving down sales.
Surely the overall state of the economy has nothing to do with car sales being down!
If I had managed either my personal finances or my business so poorly that I had bankruptcy looming in the near future, I would anticipate very few people would wish to do business with me or give me any sort of loan. I certainly wouldn’t expect a handout from taxpayers!
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