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delong.typepad.com - 11/14/2008
The Bankruptcy of GM
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We don't like to let financial firms go bankrupt because bankruptcy shuts down their business. Buying and selling financial assets is what they do, and bankruptcy requires that financial claims be largely frozen while the court sorts it out. By contrast, there is no good reason not to let ...

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Matthew Yglesias:  Bankruptcy Is Bailout

Why Bankruptcy Is the Best Option for GM
online.wsj.com - 11/17/2008
Why Bankruptcy Is the Best Option for GM
— online.wsj.com — General Motors is a once-great company caught in a web of relationships designed for another era. It should not be fed while still caught, because that will leave it trapped until we get tired of feeding it. Then it will die. The only possibility of ... (more) Why Bankruptcy Is the Best Option for GM
Comments vote down Politics Daily found this 11/17/2008found this
corner.nationalreview.com - 11/13/2008
Bankruptcy for GM
— corner.nationalreview.com — What would it mean to have GM go bankrupt? A change in ownership and a renegotiation of contracts. The factories, computers, office space, intellectual property and so forth that are now owned by GM would not disappear; they would basically become ... (more) Bankruptcy for GM

Comments vote down Varifrank found this 11/13/2008found this
varifrank.com - 11/9/2008
Question of the day - GM or Not GM
— varifrank.com — Question of the day - "So why can't GM be allowed to go into bankruptcy?" Seems to me that United Airlines and half a dozen other companies I can name have gone into bankruptcy without also going out of buisness. GM goes into bankruptcy it gets ... (more) Question of the day - GM or Not GM

Comments vote down Vodkapundit found this 11/9/2008found this
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Bankruptcy Is Bailout
Matthew Yglesias — ... , the bankruptcy code provides an established process for what amounts to bailing out an insolvent firm. As Brad DeLong says, there’s a specific problem with letting a bank go bankrupt so instead of bankruptcy you get special bailouts to prevent everyone else from getting screwed over. But a car company is not a bank and doesn’t share the relevant properties of a bank. And bankruptcy is a form of bailout. ...

Related: why bankruptcy is the best for gm
Union-Busters Want GM To File Bankruptcy
firedoglake.com 11/14/2008 — Let's call it what it is : [N]ot everyone agrees that a Chapter 11 filing by G.M. would be the disaster that many fear. Some experts note that while bankruptcy would be painful, it may be preferable to a government bailout that may only delay, at ...
Detroit: Barney Worries Bankruptcy Would Bust Unions
newsbusters.org 11/20/2008 — Barney Frank favors bailing out the Detroit automakers over letting them go into bankruptcy. Chief among his concerns is that bankruptcy might "bust" the unions. You know, those organizations whose contract demands have put Detroit on the ...
Felix Salmon Says: Not Bailout or Bankruptcy But Bailout and Bankruptcy for GM — J. Bradford DeLong's Grasping Reality with All Eight Tentacles
He writes: GM: The Bailout vs Bankruptcy Meme : At heart, this argument is simple. There's no available DIP financing for an orderly Chapter 11 bankruptcy, and Chapter 7 liquidation would be disastrous, therefore we need a bailout which avoids any kind of bankruptcy at all. But I don't ...
NY Times: The Debt Trap — Calculated Risk
From the NY Times: Downturn Drags More People Into Bankruptcy The number of personal bankruptcy filings jumped nearly 8 percent in October from September, after marching steadily upward for the last two years ... Filings totaled 108,595, surpassing 100,000 for the first time since a law that ...