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#13
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"Tom Francis - SWSports" wrote in message ... 2 - The companies, as they stand now, can't pay their creditors - what makes anybody think they will repay the US taxpayer? As of 11 AM today Ford has $160 billion in debt (with negative book value equity) and GM has about $60 billion in debt (with a negative book value equity of$56 billion). How is $50 billion more from the taxpayer going to help? Inciteful. They will be back for more, and more, and more, and more... until forced to change. Seen this happen in Canada. Once on the dole, no motivation exists to fix it. |
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